Two Downbeach school boards have approved their 2022-2023 school year budgets for submission to Atlantic County Executive Superintendent of Schools Robert Bumpus. The Margate and Ventnor school boards plan to share information about their budgets at their respective Board of School Estimate meetings.
Both school district budgets were bolstered with an increase in the towns' assessed valuation. Margate reported a $49 million increase in ratables over the prior year, and Ventnor saw a net valuation increase of $29.8 million.
A brief overview of the $13.5 million Margate school budget approved Monday shows there will be no tax rate increase again this year. Despite a $9,485 decrease in state adjustment aid, the local tax levy remains at $10,498,077. The district plans upgrades to the fire alarm systems in both schools.
The tax levy will remain unchanged for the fourth year running, and homeowners will pay $315 for every $100,000 of assessed valuation.
The Margate Board of School Estimate meeting will be held 4 p.m., Tuesday, March 29 in Commission Chambers at Historic City Hall, 1 S. Washington Ave.
Despite a $131,104 reduction in special education aid and $126,321 reduction in adjustment aid, the Ventnor City Board of Education March 11 approved its $22.2 million budget, which is $497,375 less than last year.
The tax levy will drop to $16,622,500, $160,198 less than last year, and taxpayers will see a tax rate reduction of $.006. Property owners will pay $1,196 for every $150,000 of assessed valuation, about $9 less than last year.
The Ventnor City Board of School Estimate meeting will be held 6 p.m. Thursday, April 7 at Ventnor City Hall, 6201 Atlantic Ave.
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