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Where do our property taxes go?


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Where do our property taxes go?


Where do our property taxes go?

An approximate current breakdown of an Edgemont property tax bill. Only the yellow portion could be affected by incorporation.

An approximate current breakdown of an Edgemont property tax bill. Only the yellow portion could be affected by incorporation.

Incorporation would have no impact on the operation, control, population, or physical borders of the Edgemont Union Free School District, which by law operates independently of any municipality. The school district accounts for approximately 60% of the property tax bill.

The only component of your total tax bill that could be affected by incorporation is the 16% paid to the Town for services provided to the unincorporated area of Greenburgh. Upon incorporation, that tax would instead be paid to the Village of Edgemont for local municipal services (i.e., police, public works, sanitation, etc.), regardless of whether those services were provided directly by the Village or through contracts with other municipalities or private parties.

The rest of the tax bill is paid to the Greenville Fire District (11%), Westchester County (9%), Greenburgh for Town-wide services (1.5%), and to water/sewer/refuse districts (2.5%).

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How Financially Feasible is the Village of Edgemont?


How Financially Feasible is the Village of Edgemont?


How financially feasible is the Village of Edgemont?

At the Greenburgh tax rate proposed by Paul Feiner for 2018,  a newly incorporated Village of Edgemont--with nearly $2.7 billion of property valuation--would generate $15.3 million of property tax revenue and nearly $18 million of total revenue to fund services. That amount is comfortably more than most Westchester villages of Edgemont’s size and reflects that Edgemont’s post-reassessment tax base is among the highest in the area on a per-capita basis, representing nearly 27% of the property valuation of the unincorporated area of the Town but only 16% of its population and land area.

Further, the EIC’s team of third-party municipal experts, which includes finance and management professionals specializing in local government, has concluded that this level of funding will be more than sufficient to provide a high level of services to residents.

What if Edgemont provides police and public works services itself?

FEASIBILITY STUDY

Click here for the full EIC financial feasibility report, released in January 2017, which includes financial projections if Edgemont provides its own police protection and public works services rather than securing them through inter-municipal contracts.  This report was developed over a six-month period by Zions Public Finance and The Novak Consulting Group, who concluded that Edgemont: "would be able to provide a high level of service with the existing revenues that will credit to the Village" and stated "the projected operating surplus would provide your Village government with flexibility on debt repayment, community investment, and taxation levels."

Click here for their presentation slides.

Based upon updated financial information, the Village of Edgemont would receive $700,000 in additional property taxes and approximately $300,000 in other revenues (primarily building permits and mortgage transfer taxes) above the amounts projected in the January 2017 feasibility report..

BUDGET SUMMARY

Click here for a one-page summary financial statement from the 2017 feasibility report. All assumptions and research are in the full report above. 

COMPARISON OF SERVICES

Click here for a service comparison summary between the status quo and the projected Village of Edgemont. 


EIC Introduction of Feasibility Panel

The EIC introduces the presentation and discusses the feasibility of Edgemont Village.

Zions Public Finance's Susan Becker walks through the feasibility methodology and financial analysis.

Former Rye City Manager Julia Novak introduces her team of experts, which includes a former Westchester Police Commissioner and municipal operations analyst. The Novak Group verified the work of Zions and prepared staffing and cost estimates for the Village of Edgemont's administration, police, and public works departments.

Susan Becker and Jon Lewis, a municipal finance professional and EIC leader, answer a question about capital requirements, access to debt, and the reasons why a Village of Edgemont would be able to borrow on favorable terms to finance improvements benefiting the community.

 

Julia Novak walks through a brief summary of her team's take on the feasibility of an Edgemont Village.

Opponents' consultant states that edgemont's taxes would likely drop

An anti-incorporation group held an event in September 2016 to which they brought a consultant, CGR, which had been previously hired by Greenburgh. CGR provided its preliminary view on incorporation's potential property tax impact to the residents of Edgemont.

*Note: actual Village of Edgemont property tax revenues at the Town's proposed 2018 tax rate will be $15,300,000.

 
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Can Edgemont and Greenburgh work together on Shared Services?


Can Edgemont and Greenburgh work together on Shared Services?


How realistic is a shared services plan?

Shared services are supported by New York laws are strongly encouraged by Governor Cuomo. Inter-municipal agreements eliminate duplication and save taxpayers money throughout the state, including in Westchester County.

The EIC believes that a shared services plan between Edgemont and Greenburgh for police, public works, and potentially other services would be mutually beneficial. Edgemont would enjoy service continuity, while the Town would earn contract revenue and minimize budget impact.

Click here to see an example of a village budget that contemplates shared services and thus minimizes impact to the rest of unincorporated Greenburgh.

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Questions on the Numbers?


Feasibility Presentation Videos

Questions on the Numbers?


Feasibility Presentation Videos

Questions about Major Services

Administration

Former Rye City Manager Julia Novak walks through the staffing and services for a village administration, and covers the transitions and contigency budgets and transition activities.

 

Public Works, Snow, Sanitation

Consultant Jonathan Ingram, formerly of the City of Cincinnati, presents the options and analysis for building a comprehensive public works department, which includes snow removal, highway, and sanitation.

Police and Public Safety

Former Rye City Police Chief William Connors presents the options of developing a comprehensive village police force and contracting.

 

Novak Team Conclusions of Feasibility

Julia Novak walks through a brief summary of her team's take on the feasibility of an Edgemont Village.


Questions from the Audience

Question is asked about Edgemont's outstanding debt obligations to Greenburgh. How does it work, what are we paying already, what is the schedule, and do we need financing?

Question is raised about detailed Pension numbers, if the Town can block us from park access, and the impacts and water and sewer taxes.

Question is asked about methods of accessing funds during the transition (i.e. in advance of the Village's first property tax distribution).

Resident raises concerns about unsubstantiated information about parking, the loss of access to AFV pool, and the fate of a Long Island village that recently dissolved.

Consultants are asked about how other municipalities fared after incorporating, and who will provide EMS and public safety in the event of a catastrophe.

Question is raised about risks of incorporation; a discussion follows about risk mitigation and the risks of remaining unincorporated.

Question is raised about the pension impact, if any, on the schools and accordingly the school tax bill.

Question is asked about a the impacts to co-op and condo resident taxes, and for first-time attendees, where does one gather more information?

Question is asked about insurance costs and if the study considers the feasibility of locating facilities.
 

Question is asked about an Edgemont Village's benefit and pension obligations.
 

Question is asked about the price to acquire parking spaces at the Hartsdale Metro-North train station.
 

Question is asked about the location of village facilities. Second question is asked about ensuring government appropriately represents all residents, not just single-family homeowners.

Question is asked about incorporation's impact on the rest of Greenburgh's unincorporated area.
 

Question is asked about the potential uses of Edgemont's large projected village surplus.

Question is asked about how municipalities can work with each other to share services and facilities and avoid duplication.

CAN I REVIEW THE SOURCE FINANCIAL DOCUMENTS?

Here is a link to all of the primary data. 

STILL HAVE QUESTIONS?

Jon Lewis is an EIC leader, 16-year resident of Seely Place, and career municipal finance professional. He worked closely with the consultants on the feasibility report.

Click here to ask Jon any questions about the report or on incorporation finances in general.