The average homeowner will pay three fewer dollars in taxes than last year to support the Ocean City School District budget adopted by the Board of Education earlier this week.
With a flat tax levy and a drop in citywide property values, the tax rate is rising by 1.5 cents, but the school bill for the average homeowner with a residential property assessed at $594,800 will be $1,273 this year, compared with $1,276 last year. That does not include municipal, county and other taxes.
However, because property values have changed dramatically across the island because of recent reassessments, tax appeals and Hurricane Sandy damage, the change in the tax rate may mean an increased tax bill for some people.
Overall, the city lost about $851 million from its ratable base since last year, a drop from $12.1 billion to $11.3 billion. Some individual properties might have retained the same assessment, though, and others may even have increased their assessments, resulting in higher tax bills.
The district benefited by receiving nearly $1.5 million more in school choice aid this year than it received last year, which enabled it to drop tuition rates by $743 per student for its three sending districts — Corbin City, Sea Isle City and Upper Township.
All current programs will be maintained in the budget, and a new performing arts dance program is being added.
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