Schools
2.4 Percent Tax Hike Coming In RTSD's Approved 2018-19 Budget
The school board approved the 2018-2019 budget recently, meaning township residents will see a higher tax bill for the fourth year in a row.
RADNOR TOWNSHIP, PA – With the 2017-2018 school year nearly over, the Radnor Township School District voted to approve its budget for the upcoming 2018-2019 school year. And that budget includes a tax increase.
The $98.3 million budget was OKed by the board of school directors at their most recent meeting on Tuesday, May 22.
In that budget is a 2.4 percent – or .5668 mill – tax increase.
Find out what's happening in Radnorfor free with the latest updates from Patch.
The increase is the maximum allowed by the Act 1 index, unless exceptions are granted by the state, however the district did not seek any Act 1 exemptions for the 2018-2019 budget.
A home with an assessed value of $300,000 will see an additional $170 on their tax bill with the new rate.
Find out what's happening in Radnorfor free with the latest updates from Patch.
The 2018-2019 budget marks fourth consecutive that a tax increase was levied on residents.
The largest expenditures in the budget are regular and special education instruction, respectively.
Funds from the Pennsylvania State Employees Retirement System and the unassigned fund balance were used to close a $970,324 gap in the budget.
A projected revenue of $97.3 million is included in the budget, as well.
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