The Medford Township Public Schools’ board of education adopted the 2020-2021 school year budget, unanimously, with a 2.33 percent increase in taxes. The adopted tax rate comes with a $147,669 bank cap to retain general education teaching staff.
Residents with a home in Medford Township at an average assessed value of $326,393 will see an average annual increase of $96.02 in local school district taxes. Increases in the township’s ratables has provided relief to the tax impact on residents.
Cap bank had been approved to cover some of the costs relating to a failing domestic water heater at Kirby’s Mil Elementary. A $50,000 withdraw from the capital reserves will be used to offset costs.
Citing continuous cuts to the district’s state funding, School Business Administrator Marie Goodwin directed a $1.4 million cut from appropriations. Specifics on the cuts and the adopted budget can be accessed by visiting Medford.K12.NJ.US, or by reading The Sun’s previous coverage of the budget.