CSD Approves Revised Budget with 3.4 Percent Tax Increase
The change reflects a decrease from the originally proposed four percent figure.
The Colonial School District now plans on a 3.4 percent real estate tax increase as a part of its 2012-13 budget, a revision from a the originally proposed four percent.
The board voted on the final proposed budget at its May 17 business meeting. The public will now have over a month to review the budget before its final approval by the board on June 21.
The tax equates to an additional $38.74 per year for each $100,000 of taxable assessed value, or an increase of $69.04 on the median assessed value of $147,080.
The revised figures came after administrators shrank original 2012-13 expenditures to $94,354,100, from the $99,474,015 proposed in January. According to an e-mail sent by the district, board member Mel Brodsky and president Alan Tabachnick stated that the body does not like raising taxes, but that it also completed the budget without cutting programs or furloughing employees.
The budget also proposes the use of $717,000 of an estimated $7,835,000 fund balance the district holds.
Check back with Patch as we take a look at how the district reduced its expenditures, once the budget is made available to the public.