SPRING LAKE HEIGHTS — Voters in the borough will be asked to approve a $10.4 million school improvement project on Jan. 23, 2018, the board of education announced Monday night.
If approved, the project would increase taxes by approximately $230 a year on homes assessed at the Spring Lake Heights average of $476,000.
The project has been under discussion for most of 2017 but officials said a date for the referendum could not be set until architectural plans had been finalized.
Earlier this year, officials announced that a $16 million version of the plan had been revised downward, to $10.4 million, following a review made in conjunction with the borough council and approved by the state education department.
Up to 26 percent of the overall cost would be eligible for state reimbursement, according to district officials, who also said that current “historically low” interest rates make this a good time to finance such a project.
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