The Red Bank Regional High School District Board of Education has adopted a $34.1 million budget that will fund the operation of Red Bank Regional High School during the 2022-23 school year.
Residents of Red Bank, Little Silver and Shrewsbury Borough attend the high school, which is in Little Silver. The high school enrolls students from other municipalities on a tuition basis.
The budget for the upcoming school year, which was adopted by the board on April 27, will be supported by a tax levy of $26.8 million to be paid by residential and commercial property owners in Red Bank, Little Silver and Shrewsbury Borough.
Of the $26.8 million total tax levy, Red Bank property owners will pay $12.9 million, Little Silver property owners will pay $7.62 million and Shrewsbury Borough property owners will pay $6.32 million, according to the budget document.
In 2021-22, the regional high school district tax rate in Red Bank was about 48.6 cents per $100 of assessed valuation. The owner of a home assessed at the borough average of $406,067 paid about $1,973 in regional high school district taxes.
For 2022-23, the regional high school district tax rate in Red Bank is projected to be about 46.2 cents per $100 of assessed valuation. The owner of a home assessed at the new borough average of $470,195 will pay about $2,172 in regional high school district taxes.
In 2021-22, the regional high school district tax rate in Little Silver was about 40.7 cents per $100 of assessed valuation. The owner of a home assessed at the borough average of $759,588 paid about $3,091 in regional high school district taxes.
For 2022-23, the regional high school tax rate in Little Silver is projected to be about 37.8 cents per $100 of assessed valuation. The owner of a home assessed at the new borough average of $705,887 will pay about $2,668 in regional high school district taxes.
In 2021-22, the regional high school district tax rate in Shrewsbury Borough was about 49 cents per $100 of assessed valuation. The owner of a home assessed at the borough average of $580,785 paid about $2,845 in regional high school district taxes.
For 2022-23, the regional high school district tax rate in Shrewsbury Borough is projected to be about 44 cents per $100 of assessed valuation. The owner of a home assessed at the new borough average of $642,143 will pay about $2,825 in regional high school district taxes.
Red Bank Regional High School District taxes are one item on a property owner’s tax bill, which also includes municipal taxes, K-8 school taxes and Monmouth County taxes.
A decrease in the regional high school district tax rate – as is the case in all three sending municipalities for 2022-23 – does not necessarily mean an individual will pay less in Red Bank Regional High School District taxes during the upcoming year. The amount of taxes to be paid is a function of the tax rate and the assessed value of an individual’s property.
The school district’s 2021-22 budget totaled $33.9 million and was supported by a tax levy of $26.8 million.
From 2021-22 to 2022-23, total appropriations have increased by $200,000 and the tax levy has remained the same.
During the 2021-22 school year, Red Bank Regional received $1.41 million in state aid. For 2022-23, Red Bank Regional will receive $1.59 million in state aid, an increase of $174,795, according to figures provided by the New Jersey Department of Education.
The school district’s state aid has increased each year since the enactment of state legislation known as S-2 in 2018.
Red Bank Regional High School had an enrollment of 1,297 students on Oct. 15, 2020; an enrollment of 1,297 students on Oct. 15, 2021; and has a projected enrollment of 1,327 students for Oct. 15, 2022, according to a User Friendly Budget posted on the school district’s website.
