Caldwell-West Caldwell School Referendum: See Tax Impact

CALDWELLS, NJ — What will the tax impact be for Caldwell and West Caldwell homeowners if a local school referendum passes a vote next month? About $130 per year for one proposal – and none for another, district administrators say.

Millions of dollars in upgrades throughout the Caldwell-West Caldwell Public School District are being proposed in a special school bond referendum on March 11. Read More: 2025 School Bond Referendum In The Caldwells (What To Know)

The proposal is being split into two questions. Voters will be able to approve or reject each question separately.

Construction would likely take place in the summers beginning in 2026 through 2027. See a list of frequently asked questions here.

Here’s what is being proposed – and how much it will cost taxpayers.

>> School Upgrades In Caldwell-West Caldwell: Watch Staff Explain Local Needs

QUESTION 1: SCHOOL UPGRADES

Major renovations are being planned at six of the district’s seven schools (Harrison School is the only one that is not on the list). Projects would include security enhancements, media center upgrades for Science, Technology, Engineering, Arts and Math (STEAM), and miscellaneous façade, piping and stair repairs.

There would be no additional tax impact for homeowners if this question passes, district administrators said. Here’s why:

• 20-year bond
• 34% state debt service aid of eligible costs
• $3,325,000 contribution from the district’s capital reserves
• 4% interest rate
• Retiring debt from a prior referendum

QUESTION 2: ATHLETIC FIELD HOUSE

The district is also planning the construction of a new athletic field house at James Caldwell High School. It would include four team rooms (including lockers and restrooms), coaches’ offices, a trainer’s room, a multi-purpose room on the second floor, a conference/meeting room, public restrooms, storage space and an elevator.

If Question 2 passes, Caldwell residents will see an average annual tax increase of $129. Meanwhile, West Caldwell residents will see an average annual tax increase of $127.

The tax impact was prepared by a municipal financial advisor and calculated based on average assessed home values in Caldwell and West Caldwell and the following:

• 20-year payback
• 4% interest rate
• $2,000,000 from the district’s capital reserves
• average assessed home values of $426,385 in Caldwell and $448,558 in West Caldwell
• no state debt service aid

MORE INFORMATION

The school district has launched a website with more information about the upcoming referendum. View it online here.

Learn more about registering to vote in New Jersey here. Questions about the referendum can be emailed to referendum2025@cwcboe.org.

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