NORTH BRUNSWICK – Although taxpayers in North Brunswick saw no increase in 2021-22 related to school taxes, taxes will increase for 2022-23 because of an increase in salaries, charter school costs and transportation costs.
The 2022-23 budget includes the general fund, which is the current general expenses plus capital outlay plus charter schools, at a cost of $129,400,899; grants and entitlements from state and federal sources, at an amount of $8,142,710; and the debt service fund, which is the board’s share minus debt service revenue plus the local tax levy, at an expense of $9,262,935.
The largest component of the operating budget of $129,400,899 is salaries and benefits. Other major components of the budget include charter school costs, facilities operations, transportation, technology, special education and capital acquisitions.
The total budget is $146,806,544. The board unanimously approved the tentative budget during a March 23 meeting, and adopted the final budget during the April 27 board meeting after approval from the county.
The tax levy increase of 6 cents per $100 of assessed valuation is a $1.7 million tax levy increase over 2021-22; that is the allowable increase according to the 2% cap. Adding in the state aid figure of $6.2 million, the school district has $7.9 million in revenue it is able to spend.
Taxpayers who own a home that is assessed at the township average of $160,695 will see an increase of $8.44 per month in their school taxes during the upcoming year.
In 2021-22, there was a zero increase because board members recognized families were struggling as a result of the pandemic.
Contact Jennifer Amato at jamato@newspapermediagroup.com.
