TOMS RIVER – A hearing will be held on Wednesday, April 25, to present the budget for the 2018-2019 school year.
As of press time, the district has a tentative budget. Details may change before that date, said business administrator William Doering. The updated version will appear on the district’s website, TRSchools.com, a few days before the meeting.
As it stands now, next year’s total budget would be $243,059,847, a reduction of $916,674 from the current year. Of this, $161,316,744 would be raised by taxes. This would be an increase of $3,787,277 from the current year’s $157,529,467.
There are a few large projects included in the budget. There would be $250,000 for HVAC units at various schools, and $130,000 to convert a room at Silver Bay Elementary to a special education room, with a restroom and changing room.
The biggest challenge in crafting the budget is the “ongoing lack of state aid,” Doering said. “We are receiving $3.6 million less in state aid now than we were receiving in 2009-2010. And our aid for 18-19 is the exact same amount as we received in 17-18.”
Toms River residents with the average assessments of $272,400 would see an increase in their taxes by $59.78 a year, from $3,059.89 to $3,119.67. The tax rate would see an increase of 2.19 cents per $100 of assessed valuation, from $1.12 to $1.14.
South Toms River residents with the average assessment of $165,200 would see a decrease in their annual taxes of $2.83, from $1,582.36 to $1,579.53. The tax rate would decrease by .13 cents per $100 of assessed valuation, from 95.78 cents to 95.61 cents.
Beachwood residents with the average assessment of $203,600 would see an increase of $40.87 a year, from $2,090.11 to $2,130.98. The tax rate would increase by 2 cents per $100 of assessed valuation, from $1.02 to $1.04.
Pine Beach residents with the average assessment of $267,900 would see an increase of $108.94 a year, from $2,813.92 to $2,922.86. The tax rate would increase by 4 cents per $100 of assessed valuation, from $1.05 to $1.09.
The meeting that contains the budget hearing will begin at 7:30 p.m. and is held in the auditorium at High School North at 1245 Old Freehold Road.