HOWELL – The Howell Board of Education was expected to hold a public hearing on the proposed 2008-09 school budget on March 19 at Howell Middle School North.
According to a legal notice that was published in a local daily newspaper on March 14, the board has introduced a budget totaling $110.2 million for the 2008-09 school year. In theApril 15 school election, residents will be asked to approve an operating budget local tax levy of $62.2 million to support the budget.
The total amount to be collected in local property taxes for school purposes in 2008-09 will be $69.6 million after adding in $7.4 million in the debt service tax levy. Residents do not vote on the debt service tax levy.
The board’s total budget for the 2007- 08 school year came to $108.7 million and the operating budget local tax levy amounted to just under $60 million, according to the legal notice. The debt service tax levy in 2007-08 was $7.7 million, for a total local property tax levy of about $67.7 million.
The legal notice that was published on March 14 did not provide information about the impact of the 2008-09 budget on the K-8 school tax rate.According to an article published at the time of last year’s budget talks, Howell’s K-8 school tax rate for 2007-08 was expected to be 97.8 cents per $100 of assessed valuation.
With a rate of 97.8 cents in place, the owner of a home assessed at $200,000 is paying about $1,956 in K-8 school taxes in 2007-08.
The owner of a home assessed at $300,000 is paying about $2,934 in K-8 school taxes in 2007-08.
The owner of a home assessed at $400,000 is paying about $3,912 in K-8 school taxes in 2007-08.
The owner of a home assessed at $500,000 is paying about $4,890 in K-8 school taxes in 2007-08.
The K-8 school tax is one portion of a property owner’s overall tax bill. The tax bill also includes municipal taxes, Freehold Regional High School District taxes, Monmouth County taxes and several other assessments.
An administrator was unavailable to discuss the budget on March 14.