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Board holds public hearing on creating tax-certiorari reserve after rising successful appeals
Summary
At a June 10 public hearing, the assistant superintendent for business said the district faces roughly $6.7 million in potential tax-certiorari exposure and outlined options — including moving money from ERS/TRS reserves, borrowing or bonding — while noting no board action was required that night.
The Ossining Union Free School District held a public hearing June 10 to consider establishing a tax‑certiorari reserve to respond to a recent wave of successful property tax challenges. Assistant Superintendent for Business Alita McCoy told the board and public that, as of the district’s last audited statements on June 30, 2025, “between the TRS and the ERS reserve, there’s about $7.8 million available.” McCoy said the district is currently estimating roughly $4.8 million in petitions for the 2025 assessment roll and a total exposure of about $6.7 million assuming a 70% reduction in assessed value.
The hearing was informational; no board vote was required that night. McCoy said staff and the audit committee will continue to analyze options and consult district counsel. “We do not have enough funds to move into the tax reserve without depleting other reserves,” she told the board, outlining alternatives such as borrowing, bonding or seeking other legal/administrative remedies with counsel. Board members asked about trends driving the appeals and whether the town assessor or the village would alter assessment practices; McCoy and trustees said the district has limited control over town assessments and that its attorney participates in hearings and appeals on the district’s behalf.
Trustee questions focused on the sustainability of reserve balances and on equity impacts for homeowners. One trustee noted that successful certiorari petitions shift tax burden toward other taxpayers, and urged the district to raise the town assessor’s awareness of the district’s fiscal exposure. McCoy said the district will continue to work with counsel and the audit committee to determine a funding path before taking formal action.
The public hearing record was closed after a period of board questions and community comment. Staff said they will return with further recommendations and modeling; the board did not vote on any transfers at the meeting.
