By Peter Elacqua
HOWELL – The Howell K-8 School District Board of Education has introduced a $121.4 million budget that will fund the operation of the district from July 1, 2017 through June 30, 2018.
A public hearing on the budget has been scheduled for May 3 at Howell Middle School North, Squankum-Yellowbrook Road.
The $121.4 million budget will be supported by the collection of $78.1 million in taxes from Howell’s residential and commercial property owners. The district will receive $33.4 million in state aid during the upcoming school year, according to budget documents.
The school district’s 2016-17 budget totaled $117.72 million and was supported by the collection of $76.62 million in local taxes and the receipt of $33.12 million in state aid.
In 2016, the average home in Howell was assessed at $318,000 and the K-8 school tax rate was $1.184 per $100 of assessed valuation. The owner of that home paid $3,765 in K-8 school taxes.
In 2017, the average home is assessed at $332,528 and the K-8 tax rate will be $1.162 per $100. The owner of that home will pay $3,863 in K-8 school taxes, according to budget documents.
If a resident’s home was assessed at $250,000 in 2016 and is still assessed at $250,000 in 2017, his K-8 school tax will decrease from $2,960 to $2,905.
If a resident’s home was assessed at $400,000 in 2016 and is still assessed at $400,000 in 2017, his K-8 school tax will decrease from $4,736 to $4,648.
In addition to K-8 school taxes, a property owner in Howell also pays municipal taxes, Freehold Regional High School District taxes, Monmouth County taxes, a fire district tax and other assessments.
Business Administrator Ron Sanasac said there will not be any staff changes and said the anticipated enrollment for the 2017-18 school year is 5,923 children.