Newspaper article The Record (Bergen County, NJ)

Glen Rock School Board Oks $51M Preliminary Spending Plan

Newspaper article The Record (Bergen County, NJ)

Glen Rock School Board Oks $51M Preliminary Spending Plan

Article excerpt

GLEN ROCK -- The Board of Education approved a $51 million tentative budget earlier this week.

The spending plan, which cleared the first hurdle toward adoption by a 9-0 vote Monday night, includes a general fund tax levy of $43,540,070, which represents an increase of $1.2 million, or 2.99 percent, from 2016-17. Combined with a $2,436,622 levy for debt service, the total tax levy is $45,976,692.

To meet state requirements keeping general fund tax increases beneath a 2-percent cap, the district would used "banked cap" from previous years in which its budget was below the threshold.

On the average Glen Rock home valued at $558,279, local school taxes would rise $168.69, or 1.58 percent, to $10,808.28 for calendar year 2017. The average home, valued at $554,186 last year, was taxed $10,639.59 in 2016.

The budget includes $250,000 earmarked for computers for the debut of district's one-to-one laptop initiative. …

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