By Mark Rosman
Staff Writer
The Manalapan-Englishtown Regional School District Board of Education has put a $92.34 million budget in place for the 2017-18 school year and property owners in the two municipalities will foot the bill for 69.7 percent of the package.
Residential and commercial property owners in Manalapan and Englishtown will pay a combined total of $64.31 million in taxes to support the spending plan from July 1, 2017 through June 30, 2018, according to Business Administrator Veronica Wolf.
The budget the board adopted on May 2 differed slightly from the spending plan that was introduced in March. Initially, the budget totaled $92.11 million and carried a total tax levy of $64.65 million to be paid by Manalapan and Englishtown property owners.
Wolf said minor revisions were made to appropriations that reduced the tax levy, “but added scope to a project funded with a capital reserve withdrawal so the overall budget went up (by $230,000), but the tax levy went down (by $340,000).
“The board increased the scope for a phone upgrade for system equipment that is at the end of its life and the end of its support. The tentative budget only had a portion of the total project, but it was deemed more urgent that the project be expanded. Some of the work will qualify for (federal funding),” she said.
The K-8 school tax rate for Manalapan for 2016-17 was 94.2 cents per $100 of assessed valuation. The owner of a home assessed at $400,000 paid $3,768 in K-8 school taxes.
For 2017-18, Manalapan property owners will pay a total of $62.04 million in a local tax levy to support the district. The school tax rate will be 95 cents per $100 and the owner of a home assessed at $400,000 will pay $3,800 in K-8 school taxes – an increase of $32, according to the board.
The K-8 school tax rate for Englishtown for 2016-17 was 91.7 cents per $100 of assessed valuation. The owner of a home assessed at $300,000 paid $2,751 in K-8 school taxes.
For 2017-18, Englishtown property owners will pay a total of $2.27 million in a local tax levy to support the district. The school tax rate will be 93.6 cents per $100 and the owner of a home assessed at $300,000 will pay $2,808 in K-8 school taxes – an increase of $57, according to district administrators.
An individual will pay more or less in school taxes depending on the assessed value of his home and property.
The school district’s budget for the 2016-17 school year totals $88.77 million and is being supported by the collection of $61.71 million in taxes from property owners in Manalapan and Englishtown.
In addition to K-8 school taxes, property owners in Manalapan and Englishtown pay municipal taxes, Freehold Regional High School District taxes and Monmouth County taxes, among other assessments.