School Budgets & Tax Caps

For the first time due to low inflation (CPI) rates, most public schools will face a tax cap below 1%. However, helping them meet the lower tax cap is the fact that employee pension costs are lower, providing school districts with an extra 1% in their budget to spend. Add to this an increase in state aid and savings from teachers retiring & being replaced by lower paid teachers, and well managed school budgets will be able to meet the lower tax cap, winning its residents a property tax rebate check later this year.

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