By Matthew Sockol
FREEHOLD TOWNSHIP – The Freehold Township K-8 School District Board of Education has introduced a budget that will pay for the operation of the school district during the 2016-17 school year.
Following discussion among district administrators and board members, a $76.8 million budget was introduced. The budget, which can be amended prior to its final adoption, will be supported by a tax levy of $66.6 million to be paid by Freehold Township’s residential and commercial property owners, plus $4.29 million in state aid and $2.3 million from the district’s surplus funds (savings), according to information provided by the district.
The school district’s 2015-16 budget totaled $77.8 million and was supported by a tax levy of $65.59 million. The average home in the township was assessed at $375,365, the school tax rate was $1.11 per $100 of assessed valuation and the owner of that home paid $4,165 in K-8 school taxes.
The school tax rate for 2016-17 will decrease to $1.10 per $100 of assessed valuation, but the average home in the township is now assessed at $380,000 and the owner of that home will pay $4,180 in school taxes over the next 12 months, according to information provided by district administrators.
School taxes are one component of a property owner’s tax bill, which also includes Monmouth County taxes, Freehold Regional High School District taxes, Freehold Township municipal taxes, a fire district tax and other assessments. Individuals pay more or less in taxes depending on the assessed value of their home and/or property.
District administrators said the budget will feature a new program for the 2016-17 school year that provides Chromebook laptop computers to second grade pupils. Chromebook computers are currently provided to pupils in grades three through eight.
A public hearing on the budget will be held during the board meeting that has been scheduled for 8 p.m. April 26 at the board offices at 384 W. Main St.