Cinnaminson School Budget Holds Tax Increase

The Cinnaminson Board of Education unanimously approved a tentative budget for next school year that will raise the tax rate by 3.8¢.

The increase translates to a roughly $107 tax increase for a home assessed at the township average ($283,562), according to business administrator Thomas Egan. On the low end, a home assessed at $100,000 would experience a $38 increase, while a home assessed at $500,000 would see a nearly $190 increase.

Egan attributed nearly half of the increase to a $22.6 million drop in the value of the township's ratables (approximately $1.93 billion, down from $1.95 billion).

The budget approved Tuesday is only tentative, and will be sent to the county executive superintendent for review, explained Cinnaminson Superintendent Salvatore Illuzzi, who added that the budget can be amended by the board between now and the March 26 public hearing, at which the board will formally adopt the budget. 

Technically, the board raised the tax levy for the general fund to the 2 percent cap allowed by law. However, because of a 15 percent decrease in the debt service levy, the overall tax increase came to almost $200,000 less than the cap.

Overall, the tax levy will increase by $386,124 from last year. The proposed tax rate for the 2013-14 budget is 1.576.

A few other highlights of the proposed budget:

• Appropriations are set to increase by $657,342 (or 1.5 percent), which includes a $454,819 increase in regular instruction costs.
• Even with an anticipated 15 percent increase in health benefits, the total budgeted increase for employee benefits is 1 percent, due to the fact that employee contributions are estimated to increase to $650,000.
• The district's equipment budget includes funding for a solar scoreboard for the high school front fields, replacement of a section of lockers at the middle school, shared payment with the middle school wrestling boosters for a new mat, various technology equipment, and other costs.

The public hearing on the budget will be held at 7:30 p.m. Tuesday, March 26, in the cafetorium at the middle school.