POINT PLEASANT BEACH — The Point Pleasant Beach board of education unanimously adopted its 2022-2023 school district budget of $18.5 million during its meeting on Tuesday, April 26.
During the public hearing, Brian F. Savage, school business administrator/board secretary, presented the highlights of the budget, including the annual school tax bill increase for the average assessed home in Point Pleasant Beach, along with the tax rate per $100 of assessed valuation.
After its introduction on March 22, the budget was sent to the Ocean County Department of Education to be reviewed and approved.
The total amount to be raised by taxes for 2022-2023 is $13,865,549, an increase of $186,420 or 1.36%, below the state’s 2% cap.
The increase in the tax rate is .0046 and the tax impact overall on the average assessed home is $569,391.
The appropriation total for the 2022-2023 school year is $18,536,542, an increase of $263,653 or 1.44%.
Debt service payments total $614,173 and tuition revenue is $2,167,444, according to Mr. Savage.
State aid totals are $613,967 an increase of $16,461.
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