Reserve for Tax Reduction


To reduce real property taxes over a period of time

Legal Reference:

Education Law §1604[36], §1709[37]

Account Code:


Source of Funds:

Proceeds from the sale or appropriation of real property, after being used for any other legally required purchase

Use of Reserve: Use of this reserve is authorized by BOE resolution.


This reserve was established by BOE resolution on October 20, 2014 and funded on November 4, 2014.

Funding Level:

The reserve was initially funded at a level of $1,000,000.


Ideal Balance: .

Planned Use:

Transfer remaining funds to the Capital Construction Reserve (2022) of $948,112 and $77,836 to Capital Bus Purchase Reserve (2015).

Balance at June 30, 2021: