Holmdel school board adopts $67M budget for 2020-21 academic year

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HOLMDEL – The members of the Holmdel Township Schools Board of Education have voted unanimously to adopt a $67.77 million budget for the 2020-21 school year.

During a meeting on May 6, President Victoria Flynn, Vice President Eileen Briamonte, Lori Ammirati, Jamie Collins, Brian Foster, Chiung-Yin Cheng Liu, Peter Reddy, Michael Sockol and Terence Wall voted “yes” on a motion to adopt the budget.

In 2020-21, Holmdel’s residential and commercial property owners will pay $59.6 million in a local tax levy to support the operation of the school district.

The district’s 2019-20 budget totaled $67.44 million and was supported by a $58.58 million tax levy. Total spending for the upcoming school year has increased by $330,000 and the tax levy has increased by $1 million.

In 2019-20, the school tax rate was $1.368 per $100 of assessed valuation. The average home in Holmdel was assessed at $676,993. The owner of that home paid about $9,260 in school taxes.

In 2020-21, the school tax rate is projected to increase to $1.374 per $100 of assessed valuation. The average home is assessed at $687,244. The owner of that home will pay about $9,442 in school taxes.

School taxes are one item on a property owner’s tax bill. Property owners also pay Holmdel municipal taxes and Monmouth County taxes.

The amount an individual pays in taxes is determined by the assessed value of his home and/or property, and the tax rate that is set by each taxing entity.

According to school district administrators, the 2020-21 budget contains staffing and academic investments that include a new robotics teacher, a dance teacher, a math coach and a community partnership specialist leader of education teacher; and funding for academic, arts and athletic programs such as robotics, Model UN, culinary arts and fencing.

The cost of employee benefits will decrease from $12.87 million in the current school year to $12.82 million in the upcoming school year. The cost of instruction will increase from $17.91 million in 2019-20 to $18.31 million in 2020-21, according to budget documents.

Under the terms of a state law known as S-2 that was enacted in 2018 and determines how state school aid is allocated, Holmdel will see its state aid increase from $2.58 million in 2019-20 to $3.04 million in 2020-21, according to district administrators.

Holmdel, which educates children in pre-kindergarten through 12th grade, projects an enrollment of 3,079 students in October. The district had 2,990 students enrolled in October 2019 and 2,986 students in October 2018.

The district consists of the Village School, the Indian Hill School, the W.R. Satz Middle School and Holmdel High School.