• Homeowners age 65 or over are eligible for a tax credit against regular school property taxes of 50 percent (up to $500). This credit may only be used against property taxes on a primary residence.

    LINK: Senior Property Tax Relief 

    LINK: Property Tax Assessment Value

    tax

    Kent County Comparisons FY16
    Milford updated with passage of their 10.6.15 Referendum

    District

    Current Expense

    Debt Service

    Tuition & Match

    Total

    Woodbridge*

    1.4980

    0.8582

    0.7436

    3.0999

    Milford*

    1.8830

    0.3905

    0.5695

    2.8431

    Capital

    0.8800

    0.5450

    0.3865

    1.8115

    Smyrna*

    0.9661

    0.3296

    0.4328

    1.7286

    Lake Forest

    0.9508

    0.1250

    0.3740

    1.4498

    CRSD

    0.5400

    0.2100

    0.4850

    1.2350

     

     

     

     

     

    * Milford, Smyrna and Woodbridge School Districts cross counties
    Current Expense (CE) Rate is the weighted average

     

    With the passage of the referendum, in FY17 (Year1)
    CRSD will still have the lowest Current Expense Tax Rate in Kent County

    District

    Current Expense

    Debt Service

    Tuition & Match

    Total

    Woodbridge *

    1.4980

    0.8582

    0.7436

    3.0999

    Milford *

    1.8830

    0.3905

    0.5695

    2.8431

    Capital

    0.8800

    0.5450

    0.3865

    1.8115

    Smyrna *

    0.9661

    0.3296

    0.4328

    1.7286

    Lake Forest

    0.9508

    0.1250

    0.3740

    1.4498

    CRSD

    0.8700

    0.2100

    0.4850

    1.5650

     

    With the passage of the referendum, in FY21 (Year5)
    CRSD will have the 2nd lowest Current Expense Tax Rate in Kent County

    District

    Current Expense

    Debt Service

    Tuition & Match

    Total

    Woodbridge *

    1.4980

    0.8582

    0.7436

    3.0999

    Milford *

    1.8830

    0.3905

    0.5695

    2.8431

    Capital

    0.8800

    0.5450

    0.3865

    1.8115

    Smyrna *

    0.9661

    0.3296

    0.4328

    1.7286

    Lake Forest

    0.9508

    0.1250

    0.3740

    1.4498

    CRSD

    0.9500

    0.3700

    0.4850

    1.8050



     home

    Tax rates are projected to increase each year over the next five years and will then decrease each year after.

     

    Tax Rate Increase / Year

    Total Increase

    Fiscal Year

    Year 1

    Year 2

    Year 3

    Year 4

    Year 5

    Current Expense Increase / Year

    0.33

    0.02

    0.02

    0.02

    0.02

    0.41

    Debt Service Increase / Year (estimated)

    0.00

    0.06

    0.04

    0.03

    0.03

    0.16

    Total Increase

    0.33

    0.08

    0.06

    0.05

    0.05

    0.57

     

    Average House

    Total Monthly Increase / Year

    Total
    Monthly
    Increase

    Sales Value

    Assessed Value

    Year 1

    Year 2

    Year 3

    Year 4

    Year 5

    $100,000

    $24,000

    $7

    $2

    $1

    $1

    $1

    $12

    $200,000

    $48,000

    $13

    $3

    $2

    $2

    $2

    $22

    $300,000

    $72,000

    $20

    $5

    $4

    $3

    $3

    $35

    $400,000

    $96,000

    $26

    $6

    $5

    $4

    $4

    $45

    $500,000

    $120,000

    $33

    $8

    $6

    $5

    $5

    $57