Sea Isle City School Board introduced a $2.5 million 2014-2015 budget at its March meeting. This is an 18% or $428,000 tax reduction from the current year.
The owner of the average home in Sea Isle assessed at $735,000 would see its school tax bill decrease by $68 or 18%. The current year school tax on the average home owner will fall from $372 this year to $304 in 2014-2015.
The total operating budget for 2014-2015 will be reduced to $2,479,000 or 15% from the current year.
The budget reduction was the result of a drop in the number of students attending the Ocean City School district under a send-receive agreement. This year, 93 students are enrolled from grades K to 12. In 2014-2015, this total will drop by 13 to 80 students reflective of the changing population demographics of the barrier islands as they skew toward an older population.
Personnel and operating costs resulting from the closing of the Sea Isle School in June 2012 were also a factor in the lowering operating costs. The school building was sold to the City for $1 and is currently serving as a temporary facility for the old city hall which was damaged beyond repair by Hurricane Sandy.
During the two year period the school has been closed, school taxes in Sea Isle have decreased by 41% or $218 per average household. When the school was open, the average tax bill was $522 per household which compares to the $304 which will be paid in 2014-2015.
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