The preliminary budget of $3,297,673 reflects an increase of slightly more than $140,150 over this year’s total.
By: Linda Seida
WEST AMWELL The Board of Education has proposed a budget for the 2005-06 school year that will raise taxes by more than $200 for the average homeowner.
The preliminary budget of $3,297,673 reflects an increase of slightly more than $140,150 over this year’s total.
The board was scheduled to vote on the budget last night (March 23).
The portion of the budget paid for by local taxes, known as the tax levy, would be $2,920,218. That amount reflects an increase in the tax levy over last year’s amount by slightly more than $280,150.
Property taxes would rise $204 for a homeowner whose property is assessed at the township average of $411,819. The increase would bring the school property tax total to $2,576.09 for the average homeowner. The tax rate would be 61.68 cents per $100 of assessed value.
This year, the average assessment is $396,755. The owner of a house assessed at the average paid about $2,336 in property taxes. The tax rate is 58.88 cents per $100 of assessed value.
According to the district’s business administrator, Karen Grayson, a "good portion" of the increase for the 2005-06 school year is the result of "having to give so much of our surplus back last year."
Last July, a new law was passed that reduced the amount of surplus funds school districts could keep in their budgets, dropping it from 6 percent to 3 percent of the budget, according to Ms. Grayson.
West Amwell’s surplus last year was reduced by more than $70,000, Ms. Grayson said. Now, "there is only $64,000 in surplus this year to help reduce the tax levy," she said.
The district is slated to receive $309,966 in aid from the state Department of Education. Of that amount, $237,269 is earmarked for special education. The total amount of aid is equal to the amount the district received from the state this year.