Sussex School Board finalizes budget for annual meeting
Loss of state aid means bigger impact on taxpayers
Sussex - The Hamilton School Board approved a preliminary 2012-13 budget to present to district voters at the June 18 annual budget meeting.
The proposed budget totals $49.1 million. That figure represents a 1.66 percent increase over the 2011-12 budget. The district anticipates a 2 percent loss in state aid, shifting a greater share of district revenue onto the local property tax levy. District property owners bore a tax levy of roughly $30 million last year.
If approved by taxpayers, the tax rate would jump 28 cents per $1,000 of assessed property value over last year. This year's tax rate was $10.13 per $1,000 of assessed property value, while next year's proposed rate is $10.41 per $1,000.
The projected tax rate means the owner of a home assessed at $250,000 in the Hamilton School District would pay about $2,602.50 in support of the schools. Last year, a home valued at the same price paid $2,532.50.
Residents can learn more about the Hamilton School District budget on June 18 beginning at 6:15 p.m. with the annual budget hearing in the Hamilton Fine Arts Center, W220 N6151 Town Line Road, Sussex. The annual meeting begins at 7:30 p.m., where residents have an opportunity to vote on the tax levy.
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