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The Facts: While the Rye House Tour is a time-honored tradition that helps the school district and families in need, the funds raised do not come close to compensating for the cost of residential expansion, and amount to less than one percent of the million in commissions and development profit earned by Rye real estate professionals in 2010.(Source: Zillow.com, NAHB) What we’ve heard: Most Rye residents like the current zoning and favor new construction.Each square foot of residential expansion generates thirty-two dollars of city tax revenue but may cost the Rye schools more than three hundred dollars. For example, new homes often contain “unfinished storage space” that is designed to be quickly converted to game rooms, play areas and nanny rooms.Put another way, for every dime collected by the city for residential expansion, school costs go up by a dollar. What we’ve heard: Fundraising activities, such as the Rye House Tour, mitigate the financial burden on the Rye City School District.
What we’ve heard: New homes pay more than their fair share of school costs.What we’ve heard: The City Council and the Board of Education meet regularly and are closely aligned with respect to the connection between zoning, school overcrowding and school taxes.Fact: While its true there are special joint meetings from time to time, the hard-working City Council and BOE rarely meet together except at civic ceremonies like the Little League parade.What we’ve heard: Incremental municipal tax revenue on residential expansion more than makes up for the increased burden on our school system.The Facts: Municipal tax revenue does not pay for schools and even if it did, it wouldn’t come close to making up for the burden on our school system.
The Facts: The Board of Education enrollment projections do not take residential expansion into account.