The Lakewood school district currently owes the state of NJ $46 million for loans it received over the years to balance the budget. If the district accepts the new loan offer of 36 million it will owe the state $82 million dollars which will come from Lakewood taxpayers.
App reports critics questioned if the 1 day shutdown was necessary that left 1000 special ed students without programs they called it a stunt.
Mathematically, the current BOE budget of 100million costs you half your property taxes. So if we owe 82million, then each homeowner is responsible equal to almost another half. And if we increase the loan by 40million per year, your taxes should go up by 25% of your total bill to cover that deficite. We are only paying off the tip of the iceberg but underwater its getting massive!
ReplyDeleteWhy do only half the property taxes go to schools? In many surrounding towns its 77 to 88 percent.
Deleteit's closer to 60%
DeleteThe whole shutdown was a stunt since the state said the money was coming.
ReplyDeleteIt was a show for certain individuals to justify their high salaries.
Thanks to the Igud and Vaad always looking out for the olam.
ReplyDelete