Proposition III
“Shall the sum to be raised by annual levy of a tax upon the taxable real property within the Skaneateles Central School District for the purpose of funding the Skaneateles Library Association be $991,294”
The funding from the proposed levy will be used to support two components:
- Operating costs: $453,560
This includes a $25,000 increase over last year to account for the rising cost of doing business. Even so, the Skaneateles Library levy will still cover only 78% of operating expenses, compared to the 90–99% covered at comparable libraries. - Debt Service: $537,734
The average annual debt service payments on the 25-year bond that will provide approximately half of the total project cost to build a brand new library for our community. Half of the total cost of the project has been funded through private donations, and foundation and government grants which reduces the impact to taxpayers.