3-17-21 LRHSD Releases 21-22 Budget Information

  • In preparation for submission to the New Jersey Department of Education, the Superintendent’s office is sharing preliminary budget findings.

    The total 2021-2022 General Fund Operating Budget is $158,758,708 which represents a 2.17% increase over the previous year. This increase is the net difference of a 2.13% tax levy increase and a decrease of State Aid in the amount of $1,110,080.

    The Debt Service tax levy is decreasing by $74,129 which reflects the current payment schedule for the 2021-2022 year that was previously approved by the tax payers.

    The district is proud that a balanced budget could be put forth for approval which does not require any reductions to student programs this year. This is due to operational reductions, reductions in positions and other cost saving measures proposed by the administration and subject to approval by the Executive County Superintendent. Once approved, a more in-depth discussion of budget and tax impact will occur during a public hearing which will take place at the Seneca High School Auditorium, 110 Carranza Road, Tabernacle, New Jersey at 7:30 p.m. on Wednesday, April 28, 2021.

    The General Fund Tax Levy increase of 2.13% and a Debt Service Tax Levy decrease of 3.83% results in the tax impact set by New Jersey Statutes as outlined below.

     

    • Evesham Township – Tax levy increase of 0.02 cents, resulting in an increase in regional school taxes of $2.71 on a home assessed at the township average of $271,884.

    • Medford Township – Tax levy increase of 1.18 cents, resulting in an increase in regional school taxes of $39.94 on a home assessed at the township average of $326,586.

    • Medford Lakes Borough - Tax levy increase of 5.01 cents, resulting in an increase in regional school taxes of $150.68 on a home assessed at the borough average of $288,021.

    • Mt. Laurel Township – Tax levy increase of 1.59 cents, resulting in an increase in regional school taxes of $39.33 on a home assessed at the township average of $237,700.

    • Shamong Township – Tax levy decrease of 0.48 cents, resulting in a decrease in regional school taxes of $11.64 on a home assessed at the township average of $309,233.

    • Southampton Township – Tax levy increase of 2.67 cents, resulting in an increase in regional school taxes of $52.93 on a home assessed at the township average of $192,493.

    • Tabernacle Township – Tax levy decrease of 4.18 cents, resulting in a decrease in regional school taxes of $97.03 on a home assessed at the township average of $267,131.

    • Woodland Township – Tax levy increase of 3.10 cents, resulting in an increase in regional school taxes of $70.09 on a home assessed at the township average of $254,800.