In the Caldwells: School Budget Update

CALDWELL / WEST CALDWELL

During their Monday, May 4 meeting, the Caldwell-West Caldwell Board of Education approved a $42.05 million operating budget for 2015-16, an increase of $177,575 from the previous year.

The budget will have a tax levy increase of 3.5 percent. According to 2015 school budget data, Caldwell is responsible for 32.78 percent of the total valuations and West Caldwell is responsible for the remaining 67.22 percent.

A homeowner with a property valued at $430,000 would see a $173 hike to their property tax bill, according to budget data on the district website.

See the district’s budget presentation online here.

According to school officials, expenditures will include:

• Salaries – 54 percent
• Benefits – 16 percent
• Tuition – 6 percent
• Buildings and Grounds – 5 percent
• Transportation – 2 percent
• “Everything Else” – 15 percent

NORTH CALDWELL

The West Essex Regional Board of Education, which includes North Caldwell in addition to Essex Fells, Fairfield and Roseland, approved a total $39.2 million budget during its April 27 meeting.

The total tax levy increase to homeowners increased by 3.07 percent.

See the “user-friendly” version of the budget online here.

According to a report in The Progress:

“North Caldwell is set for 51 cents per $100 of assessed valuation, or about $510 for property worth $100,000, which is up from 49 cents per $100 and $487 per $100,000. The approximate increase would be $23 per $100,000.”

Send Caldwell area news tips and press releases to eric.kiefer@patch.com