Schools
How Do You Feel About Possible 1.6-cent Increase in Hazlet School Taxes?
After two years with zero increase, the tax levy is anticipated to increase by $668,419.
If you have an opinion or questions on the approximately $49.9 million budget proposed for the 2013-14 academic year, the Hazlet Board of Education's public hearing Thursday will be your opportunity to speak up.
The March 21 hearing will begin at 7 p.m. at Raritan High School on Middle Road in Hazlet.
The $49,980,443 total general budget tentatively approved for the 2013-14 academic year is about a $1.6 million increase from the 2012-13 total general budget of $48,324,762. The total general budget includes a $1,550,000 contribution from the district's capital reserve account.
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The operating budget, which is a portion of the total general budget that covers the day-to-day costs of running a school district, increased by $210,963, or 0.44 percent, according to Mullins.
The increase in the budget resulted in a $668,419 increase in the tax levy. The amount to be raised by taxes over the 2013-14 academic year is anticipated to be $34,108,882. Even so, Mullins explained, the increase to the tax levy was $1,345,419 under the permitted two percent cap. School taxes have not been raised since the 2010-11 academic year.
Find out what's happening in Holmdel-Hazletwith free, real-time updates from Patch.
The estimated school tax rate for the 2013-14 year, including debt service and other adjustments, is expected to increase 1.6 cents to $1.4482 per $100 of assessed valuation, according to a copy of the tentative budget available on the district website. The 2012 school tax rate was $1.432 per $100 of assessed valuation.
In effect, a property with an assessed valuation of $300,000 could expect to pay $4,344.60 in school taxes for the year, a $48.60 increase from 2012.
State aid is anticipated to remain exactly the same as the 2012-13 academic year at $12,731,511.
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