Holmdel Property Taxes Will Rise With New School Budget

HOLMDEL, NJ — At their meeting last Wednesday, the Holmdel Township Board of Education unanimously approved a $59.3 million budget for the 2018-2019 school year, which will bring with it an increase in property taxes.

The new budget will result in a local tax levy of $56,897,162, which equates to an annual tax increase of $112.68/year or $9.39/month on the average Holmdel residential home assessed at $668,606, according to Business Administrator Michael Petrizzo.

In the past three years, the Holmdel school year budget has increased year over year. In 2016-2017, it was $54,141,493; in 2017-2018 it was $58,021,420 and in 2018-2019, it will be $59,346,576. You can read the entire budget report here: https://drive.google.com/file/...

Part of that budget increase will be spent on funding the Holmdel 2020 initiative, Petrizzo confirmed. Holmdel 2020 is a series of promised improvements to Holmdel public school buildings and athletic areas, such as new locker rooms at Satz, relocating the sinking tennis courts at the high school and replacing the turf and stadium lights at Roggy Field. It also includes technology improvements to classrooms.

Last fall, the Holmdel school district, under superintendent Dr. Robert McGarry, warned property taxes would likely increase in order to fund Holmdel 2020. In fact, the impending tax increase, and concerns about whether the improvements were really needed, is why some Holmdel residents voted against the Holmdel 2020 referendum when it was put up to a public vote in September.

Read: Holmdel Approves $40.3 Million School Spending Plan: Here's how some of your neighbors voted tonight, and they explained why to Patch.

Dr. McGarry said that the budget approved by the board Wednesday will go to funding these improvements:

• New courses at Holmdel High School including Medical Terminology, the third in a series of courses being offered in collaboration with Rutgers University.
• A plan to implement a standard of class sizes in grades K-6 and reduce class sizes
• Funding for personnel to advance social and emotional learning in the district
• Enhancements to the district’s technology infrastructure

See the entire 2018-2019 budget presentation here: https://prezi.com/view/EHjFP4r...

In total, the Holmdel 2020 initiative is a $40.3 million series of infrastructure improvements to the schools. Construction on the first of the projects starts when school ends this June. All the work should be completed by the beginning of the 2020 school year, hence its nickname, "Holmdel 2020."

Holmdel will be issuing bonds (taking out loans) to cover most of the Holmdel 2020 plans.

Related: Holmdel 2020 Initiative: How Much Will Your Property Taxes Go Up?

All photos by Carly Baldwin/Holmdel Patch