The Massapequa School Board has set up a $1.5 million fund to pay off property tax refunds they'll now be responsible for paying.
The money is needed as a result of a change in the way Nassau County handles tax assessment issues.
Currently the county conducts assessments, Deputy Superintendent Alan Adcock told those in attendance at last week's Board of Education meeting.
"Up until recently, they've also had the responsibility when they failed to get an assessment correct," he said.
Nassau County lawmakers voted to shift the assessment to to school districts in 2010.
A legal challenge against the plan failed, and a second one is pending.
But in the meantime, the Massapequa school district has to plan to make the payments.
"The resolution you have before you, establishes a reserve for those payments that the school district will have to make in the near future," Adcock told board members."
Because of the uncertainty over the issue, the district did not set up a fund for the 2012-13 budget. In the future, the money will be part of the district's operating budget, Adcock said.
The Board voted unanimously to transfer the funds, from the district's retirement system reserve.
Adcock said the retirement reserve was chosen because it had the most money of the district's reserve funds.
After the meeting, Adcock said the district came up with the $1.5 million figure based on the number of tax challenges from this year, adding that the district never received historic tax certiorari information, despite several requests.
