Wednesday, March 27, 2013

BoE taxes rises 4% on sequestration, charter school expansion, health care costs

First BoE tax increase in four years weighs in at $34.42 per 145K assessed tax property value

The proposed Hoboken BoE budget is available and includes a detailed explanation on its tax increase and cuts detailing:
  • Sequestration of federal funds used to support our students in greatest need;
  • Increased costs for insurance;
  • Increased requirements for funding to charter schools due to enrollment increases;
  • Increased enrollment at lower grade levels require some staffing changes;
  • Requirements to reduce a long-time deficit for our food service operations, and
  • Increased costs for tuition to schools for the disabled. 

Hoboken taxpayers see approximately 26% of their tax bill go to the district with the the other two tax components being County and Municipal taxes.

About $1.8 million was needed to fill a budget gap.  The amount consisted of: salary increases, the expansion of a Hoboken Charter school, health care costs and budgeting toward the Obama Sequestration at approximately over 400K.*

* Although it's unclear if sequestration will take place and remain intact for the year, BoE budgets must account for all of the cost up front.

Complete details are available in the overview posted on the Hoboken BoE website.






Talking Ed Note: There's nothing more contentious when it comes to facts and figures in the Mile Square City then the Hoboken BoE budget. Before you start making comments and asking questions reflecting that you didn't read the information provided here from the BoE, please read it first.