HAZLET — The Hazlet Township Public Schools Board of Education has introduced a $65.64 million budget to fund the operation of the school district during the 2022-23 school year.
The budget was introduced during a meeting held March 21.
A public hearing on the budget has been scheduled for May 2 at Raritan High School. The board members may vote to adopt the budget following the public hearing.
According to information provided by the board, the 2022-23 budget will be supported by the collection of a $45.24 million tax levy to be collected from residential and commercial property owners in Hazlet. Other revenues will account for the remaining $20.30 million that has been appropriated in the budget.
The school district will see a $1.26 million decrease in its state aid from $9.67 million in 2021-22 to $8.41 million in 2022-23 under the terms of a state school funding law known as S-2, according to information provided by the New Jersey Department of Education.
The board has not provided information regarding the impact of the 2022-23 budget on property taxes.
School taxes are one component of a property owner’s total tax bill. The bill also includes taxes that are paid to Hazlet and to Monmouth County.
Individuals pay more or less in taxes depending on the assessed value of their home and/or property and the tax rate that is set by each taxing entity (i.e., municipality, school district, county).
If the assessed value of an individual’s property increases from one year to the next, that individual could pay more in taxes to a taxing entity (i.e., school district) even if the tax rate for that taxing entity has decreased.
During the 2022-23 school year, the board is planning to withdraw $5 million from the district’s capital reserve account to be used for the construction of a fieldhouse at Raritan High School, according to information on the March 21 meeting agenda.
The school district’s budget for the current 2021-22 school year totals $61.27 million and is being supported through the collection of $44.41 million in taxes from residential and commercial property owners in Hazlet.
From 2021-22 to 2022-23, total appropriations have increased by $4.37 million and the tax levy has increased by $830,000.
The Hazlet Township Public Schools had an estimated enrollment of 2,685 students as of Oct. 15, 2021, according to information posted on the school district’s website.
The district is comprised of the Sycamore Drive Early Childhood Learning Center, Raritan Valley Elementary School, Middle Road Elementary School, Lillian Drive Elementary School, Cove Road Elementary School, Beers Street Elementary School, Hazlet Middle School and Raritan High School.
