Lansing school taxes will likely increase due to power plant devaluation

For eight years the fate of the Cayuga Power Plant has loomed over the Lansing Board Of Education's budgets. Starting in 2010 the value of the district's largest taxpayer has plummeted by 100 million dollars, and Lansing School District Business Administrator Mary June King says it is likely to lose even more value after the current negotiations with Tompkins County are concluded. King presented five scenarios assuming various plant value losses that could result in the tax rate rising anywhere between 22 cents per thousand dollars of assessed value to as much as $1.51. That would mean that owners of a $200,000 home may pay between $80 and $338 more than they did this year.

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