The New Hope-Solebury School Board recently approved a $41.2 million preliminary budget that includes a 3.1 percent tax increase. The school district has applied to the state for an exception that would allow the district to increase taxes higher than the 2.4 percent Act 1 index.
According to Business Administrator Andrew Lechman, district administrators and the school board would work to see if a tax hike at or below 2.4 percent is an option, but the district is facing a deficit of over $1 million for the 2018-19 school year. A 3.1 percent tax increase would raise $915,000 and the remaining gap could be covered by drawing from the fund balance.
The preliminary tax increase would raise the property tax rate by 3.03 mills, or about $173 for a property owner with a home assessed at the school district average of $57,000. The total tax rate would be 100.72 mills for a total school district property tax bill of $5,741 on the average assessed property. New Hope-Solebury School Board 2018 Meeting Schedule