MILLSTONE – The Millstone Township K-8 School District Board of Education has adopted a $40.1 million budget that will fund the operation of the district during the 2020-21 school year.
Following a discussion among district administrators and board members, the budget was adopted on April 27.
In 2019, the $39.6 million budget that was adopted for the 2019-20 school year was supported by a local tax levy of $32.2 million and the receipt of $4.46 million in state aid.
The $40.1 million budget for the 2020-21 school year will be supported by a local tax levy of $32.7 million and the school district will receive $4.06 million in state aid.
The 2019-20 budget produced a school tax rate of $1.72 per $100 of assessed valuation. The owner of a home assessed at $500,000 paid about $8,600 in school taxes.
For 2020-21, the school tax rate will increase to $1.74 per $100 of assessed valuation. The owner of a home assessed at $500,000 will pay about $8,700 in school taxes.
School taxes are one component of a property owner’s tax bill, which also includes Monmouth County taxes, Millstone Township municipal taxes and other assessments.
An individual pays more or less in taxes depending on the assessed value of his home and/or property and the tax rate that is set by each taxing entity.
The school district’s state aid has decreased each year since the enactment of state legislation known as S-2 in 2018. Millstone is projected to lose a total of $2.1 million in state aid under S-2 through 2024-25, according to district administrators.
“I am thankful to our business administrator, Bernie Biesiada, and the members of our Board of Education for working diligently to create and approve a budget that is as fiscally responsible as possible while avoiding catastrophic impacts to the schools and students,” Superintendent of Schools Christopher Huss said.
“Despite a loss of nearly $900,000 in state aid over the past three years, we remain committed to doing what is best for the students and steadfast in our mission to stay at the forefront of education.
“We are proud of our cutting-edge STEM (science, technology, engineering, mathematics) electives, robust curriculum, progressive character education programs, commitment to the arts and extensive extracurricular activities. All of these are supported by the (2020-21) budget and we are hopeful we can maintain them for the foreseeable future,” Huss said.