SCHOOL BUDGET APPROVED AT 2% TAX HIKE

Board of School Estimate chair Vic De Luca

The Board of School Estimate held firm Wednesday night, approving a school district budget with a 2% tax hike.


PATCH reports:

The Board of School Estimate approved a tax levy for the 2012-2013 school year at a 2% "all in" increase over the 2011-2012 tax levy on Wednesday night, March 28.

$3,324,625 will be raised to pay for debt service for the district; while $101,959,453 will be raised to pay the general fund. The total amount to be raised is $105,284,078.

Because the towns of Maplewood and South Orange are on calendar years fiscally, the amount to be raised for 2012 is somewhat different for the yearly budget compared to the school year calendar. A total of $104,251,375 will be raised in 2012 across the two towns. Maplewood is responsible for $59,803,069; South Orange for $44,448,306.

In Maplewood, the owner of a home at the average assessed value of $422,800 will be paying $7,739 in taxes to the school district in 2012. In South Orange, the owner of a home at the average assessed value of $460,274 will pay $9,098 in taxes to the district in 2012.

Superintendent Brian Osborne showed his approval with this tweet:

Brian Osborne ‏ @SOMSDsuper 

SOMSD'S 2012-13 budget passed unanimously by BSE at 2% tax impact. No program cuts or increases to class size. More support for instruction.