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Also attached to this agenda item: 1 Croton Point Neg Dec Reasons in Support 2024.12.18 10152024 Response Letter 1CrotonPoint Fiscal 20241016 1CrotonPoint PSAC 20241016 1CrotonPoint Part 2 FEAF 20241218 1CrotonPoint Part 3 FEAF 20241218 AKRF Memo 1 Croton Point SUP Conditions 20241202 December 18th Resolution 259-2024 LWRP and SEQRA Draft Phase II Environmental Site Assessment Report Environmental Noise Study and Facade Glazing... Insite Preliminary Wastewater Engineering Report dated... Insite Preliminary Water Engineering Report dated July...

34 South Broadway, Suite 300 White Plains, NY 10601 tel: 914.949.7336 www.akrf.com Memorandum To: Bryan Healy, Village Manager, Village of Croton-on-Hudson Mayor Bryan Pugh, Village of Croton-on-Hudson From: AKRF, Inc. Date: December 18, 2024 Re: New Construction and Tax Cap Calculation cc: Linda Whitehead (MGS) The purpose of this memorandum is to provide the Village with information regarding the effect of increased assessed value due to new construction on a local government’s tax levy limit (e.g., the “tax cap”). As illustrated thorough the link below, available from the New York State Comptroller’s Office, a tax base growth factor is applied annually by the State to calculate a municipality’s tax levy limit. https://www.osc.ny.gov/files/local-government/property-tax-cap/pdf/formula.pdf The tax base growth factor is provided by the New York State Department of Taxation and Finance (Office of Real Property Tax Services) to each taxing jurisdiction for use in determining the allowable tax levy growth. The tax base growth factor is based on the Department of Taxation and Finance’s determination of increases to a district’s assessed value due to “quantity change,” such as new construction, newly taxable status of existing property, or measurable improvements to taxable property. As a result, new growth experienced by a district year over year does not count against the tax levy. Rather, the tax growth factor is applied to the previous year’s tax levy and serves as a “pre-cap” growth factor so that new development does not count against the tax cap.