The Matawan-Aberdeen Regional School District Board of Education has adopted a $92.27 million budget to fund the operation of the school district during the 2022-23 school year.
The budget was adopted in a 9-0 vote by board members during a meeting held April 25.
The total tax levy to support the school district’s 2021-22 budget was $60.51 million.
The 2022-23 budget will be supported by the collection of a $61.45 million tax levy to be paid by residential and commercial property owners in Aberdeen Township and in Matawan.
According to a 2022-23 User Friendly Budget posted on the school district’s website, property owners in Aberdeen Township will pay $41.1 million of the total tax levy and property owners in Matawan will pay $19.8 million of the total tax levy.
The school district will see a $490,000 decrease in its state aid from $13.43 million in 2021-22 to $12.94 million in 2022-23 under the terms of a state school funding law known as S-2.
According to a budget presentation, district projects for 2022-23 are as follows – Cambridge Park Preschool renovations; Strathmore preschool playground; heating, ventilation and air conditioning renovations at Cambridge Park Preschool and Matawan Regional High School; painting and flooring repairs; and Cliffwood Elementary School and Lloyd Road Elementary School concrete repairs.
For the 2021-22 school year, the average home in Matawan was assessed at $367,375. The school tax rate in Matawan was slightly less than $1.68 per $100 of assessed valuation. The owner of a home assessed at the borough average paid about $6,171 in school taxes in 2021-22.
For the 2022-23 school year, the average home in Matawan is assessed at $377,500. The school tax rate in Matawan is projected to be $1.66 per $100 of assessed valuation. The owner of a home assessed at the borough average will pay about $6,267 in school taxes in 2022-23.
For the 2021-22 school year, the average home in Aberdeen Township was assessed at $317,139. The school tax rate in Aberdeen Township was $1.73 per $100 of assessed valuation. The owner of a home assessed at the township average paid about $5,485 in school taxes in 2021-22.
For the 2022-23 school year, the average home in Aberdeen Township is assessed at $327,900. The school tax rate in Aberdeen Township is projected to be slightly more than $1.73 per $100 of assessed valuation. The owner of a home assessed at the township average will pay about $5,673 in school taxes in 2022-23.
School taxes are one component of a property owner’s total tax bill in Aberdeen Township and in Matawan. The bill also includes taxes that are paid to the municipality 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 or remained the same.
The pre-K to grade 12 school district had an enrollment of 3,715 students on Oct. 15, 2021. The estimated enrollment for Oct. 15, 2022 is 4,480 students, according to the 2022-23 User Friendly Budget.
The district is comprised of the Cambridge Park Preschool, the Strathmore Elementary School, the Ravine Drive Elementary School, the Lloyd Road Elementary School, the Cliffwood Elementary School, the Matawan-Aberdeen Middle School and Matawan Regional High School.
