State: Haldane Can Boost Levy by 5.5%

Amount is nearly twice 2025-26 cap
The Haldane school district can increase its property tax levy by as much as 5.53 percent for 2026-27 while staying within the state's tax cap formula.
If the five-member board approves an increase at that level, it would be nearly twice the 2025-26 increase, which was 2.8 percent, well below the state cap for that year of 3.38 percent. The state calculates the cap for each district annually.
The primary cause of the jump in the cap is borrowing costs for Haldane's $28.4 million capital plan, according to administrators, who shared the calculation at the Tuesday (Feb. 3) school board meeting.
In November 2024, voters approved a plan for the district to borrow money for a series of campus upgrades, including a 17,300-square-foot addition to the high school. The plan also includes changes to the campus traffic flow, new student support offices and security upgrades. The cap formula allows districts to collect higher taxes for debt payments on voter-approved capital improvements.
How is Cap Calculated?
To calculate how much they can raise taxes, most districts in the state, including Haldane, Garrison and Beacon, each year must use a state-mandated formula with as many as a dozen factors… Read more.
The district plans to recommend a budget on March 3. The board will adopt a budget on April 21, and district residents will vote on the spending plan on May 19, along with the board seat held by Peggy Clements.
Under state law, if the proposed levy is at or below the cap, the district needs only a majority of voters to approve the budget. If the district proposes a levy that exceeds the cap, the budget must be approved by 60 percent of voters.
Under the current proposed state budget, the district said it expects to receive a 1 percent increase in foundation aid, or about $30,000 more than last year, when it received $3 million. Administrators said that most districts are expected to receive the minimum increase, which is designed to ensure equitable education funding regardless of local property wealth.
It also will receive $10,000 per student for its pre-K program, or $4,600 more than in 2025-26. The program has a maximum of 18 students, so the district will receive $82,800. New York hopes to have pre-K in every district in the state by 2028-29.