By Jenine Clancy, Special Writer
JAMESBURG — Taxpayers will see a higher tax rate under the district’s $13 million dollar budget for 2014-2015.
The budget was approved by the Board of Education at the John F. Kennedy Elementary School on April 25.
The approved budget calls for a 2 percent tax levy of $7.4 million, up from $7.2 million for last year’s budget.
In order to maintain the state mandated two- percent levy, $145,342 of surplus was appropriated. An additional $96,000 of reserves were also appropriated to offset one time expenditures.
The school tax rate in Jamesburg will increase 6.5 cents per $100 of assessed valuation, resulting in about an $84.25 dollar increase in the school district taxes this year for the average assessment of a home at $123,900.
A $150,000 assessed home would see a $102 increase for the year, while a $200,000 home would see an increase of $136 for the year.
According to the budget, the amount of state aid received is $5,176,762, and represents a $11,148 increase from last year’s budget.
Federal aid revenue for 2014-2015 school year is anticipated to be $388,965, representing a decrease of $4,038 from last year, according to the budget.
The approved plan increases spending for regular instruction by three percent to allow for an increase in tuition costs at the high school and hiring a full-time maintenance position. No new programs were added.
”This is a fiscally responsible budget and allows the district’s high school students to continue their education at the Monroe Township High School,” said Beth Brooks the board’s secretary.
”Our goal has been to protect the integrity of the instructional programs we offer to the children who attend our district schools,” she said.
