Newspaper article The Record (Bergen County, NJ)

Paramus School Board Oks Budget with $56 Tax Increase

Newspaper article The Record (Bergen County, NJ)

Paramus School Board Oks Budget with $56 Tax Increase

Article excerpt

PARAMUS -- The Board of Education on Monday night adopted a 2016- 17 school year budget that will raise taxes $56 on the average home in the borough, assessed at $535,000.

The budget totals $89.2 million in expenditures and appropriations and is a 2.8 percent increase from the current school year budget, Steven Cea, the district's business administrator and board secretary, said during a public budget hearing held at the high school auditorium.

At a public school board meeting last month, Cea called the tax hike "a modest increase for expanding our existing program."

The budget includes a $75.7 million tax levy to support general expenses and $1.19 million for debt services. It also includes a withdrawal of $3.1 million from the capital reserve to fund various school and facility projects, including site improvements, roof replacements, bathroom renovations, boys locker room improvements, high school renovations, LED retrofits and security improvements. …

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