Lorna Cherot Littleway is reporting in the Columbia Paper the Taconic Hills School Board has established a Tax Reduction Reserve Fund. The purpose of the fund is to provide some assistance over the next decade to property owners within the district; however, the details of the plan are not yet known. The money for the Tax Reduction Reserve Fund comes from a defunct reserve created after the district's $15 million facilities capital project was approved in 2009. It contained nearly $1 million when it was closed. A resolution passed by the board last week split those funds between property tax relief and the district's Capital Fund. When contacted and asked how the new fund will impact district taxpayers, Superintendent Neil Howard said because officials are still in the early stages of budget planning, he could not comment about how much of the reserve funding may be needed to balance the 2016-17 spending plan. Read the full story in the Columbia Paper.