COLTS NECK – The Colts Neck K-8 School Board of Education has voted to adopt a $25.79 million budget for the 2018-19 school year.
Colts Neck’s residential and commercial property owners will pay $23.02 million in local taxes (approximately 89.3 percent of the budget) to support the operation of the school district. The district will receive $1.136 million in state aid for 2018-19, which represents an increase from the $1.01 million the district received in 2017-18.
During a meeting on May 3, board President Dr. Kimberly Raymond, Vice President Kathryn Gizzo and board members Danielle Alpaugh, Marian Castner, Jacquelyn Hoagland, Kevin O’Connor, Rebecca Roberts and Heather Tormey voted to adopt the budget. Board member Michael Taylor was absent.
The district’s 2017-18 revised budget totaled $26.11 million and was supported by a $22.47 million tax levy.
Colts Neck’s K-8 school tax rate for 2017-18 was 74.83 cents per $100 of assessed valuation. The average home was assessed at $843,743 and the owner of that home paid $6,313 in K-8 school taxes.
Colts Neck’s K-8 school tax rate for 2018-19 will be 76.01 cents per $100 of assessed valuation. The average home is assessed at $840,000 and the owner of that home can expect to pay $6,385 in K-8 school taxes.
In addition to K-8 school taxes, property owners also pay Colts Neck municipal taxes, Freehold Regional High School District taxes and Monmouth County taxes.
District administrators said there will be no significant changes to the number of staff members during the upcoming year.
District administrators said the 2018-19 budget:
• Supports significant upgrades to current network core switches, the replacement of devices that have exceeded life expectancy, and the addition of several ceiling mounted projectors;
• Supports the continuation of the district’s commitment to personalized learning;
• Supports the continuation and expansion of safety and security measures, building upon the district’s commitment to provide safe and secure learning environments for students and staff;
• Includes the acquisition of a new 54-passenger bus to replace an existing bus that must be retired.
Colts Neck, which educates children in pre-kindergarten through eighth grade, has an enrollment of 956 students and projects 959 students at the start of the 2018-19 school year. The district consists of the Conover Road Primary School, the Conover Road Elementary School and the Cedar Drive Middle School.