HOLMDEL – The members of the Holmdel Township Schools Board of Education have adopted a $68.75 million budget for the 2021-22 school year.
During a recent meeting, President Victoria Flynn, Vice President Michael Sockol and board members Eileen Briamonte, Brian Foster, Joseph Hammer, Peter Reddy, Elizabeth Urbanski, Terence Wall and Linda Zhang voted “yes” on a motion to adopt the budget.
The 2021-22 budget will be supported by the collection of a $59.39 million tax levy to be paid by Holmdel’s commercial and residential property owners.
The school district’s 2020-21 budget totaled $69.99 million and was supported by the collection of a $59.63 million tax levy from commercial and residential property owners.
From 2020-21 to 2021-22, the school district’s total appropriations have decreased by $1.24 million and the tax levy has decreased by $240,000.
In 2020-21, the school tax rate was approximately $1.37 per $100 of assessed valuation. The average home in Holmdel was assessed at $687,244 and the owner of that home paid about $9,415 in school taxes.
In 2021-22, the school tax rate is projected to decrease to approximately $1.35 per $100 of assessed valuation. The average home is now assessed at $700,436 and the owner of that home will pay about $9,455 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 2021-22 budget contains staffing and academic investments that include two new reading teachers, a new math teacher, a teacher for the gifted and talented program and a STEM (science, technology, engineering, mathematics) teacher.
Investments will be made to the National Honor Society dance and business, the peer leadership program, unified sports, the robotics club and boys volleyball.
Academic investments are expected to include instructional supplies and materials, testing supplies, athletic supplies, technology supplies, services for a school psychologist and therapeutic intervention services.
The cost of employee benefits will decrease from $12.82 million in 2020-21 to $11.88 million in 2021-22, according to budget documents.
The cost of instruction will increase from $26.19 million in 2020-21 to $27.14 million in 2021-22, 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 $2.72 million in 2020-21 to $3.36 million in 2021-22, according to district administrators.
Holmdel, which educates children in pre-kindergarten through 12th grade, had an enrollment of 2,990 students in October 2019 and an enrollment of 2,887 students in October 2020. The projected enrollment for October 2021 is 2,983 students.
The district consists of the Village School, the Indian Hill School, the W.R. Satz Middle School and Holmdel High School.
