The Methacton School District Board of School Directors voted to adopt a proposed budget for the 2012-2013 school year during the Board's regularly scheduled meeting on May 15, 2015. The proposed budget includes a 1.95% tax increase, which equates to an increase of .51 mills, resulting in a proposed millage rate of 26.83.

The increase in the District's required contribution to the Pennsylvania State Employee's Retirement System [PSERS] combined with poor local revenues drawn from interim tax collections, as well as stagnant real estate transfer tax collections and earned income taxes present the greatest challenges in building the budget.

Local revenue is down $57,246; net of the PSERS subsidy, the district has also reduced the amount of funding expected through from the state subsidy by $263,571. The mandated PSERS contribution rate was increased to 12.36% from 8.56% in 2011-2012. As a result, the district must allocate more than $5 million dollars toward this one expenditure.

The budget also includes the use of $1.25 million dollars of existing fund balance in order to balance the budget at $94,333,111. The 1.95% tax increase included in the proposed budget includes the 1.7% increase allowable under the Act 1 limit, as well as an additional .25% allowable through the retirement exception.

A resident whose home is valued at the average residential assessment of $180,767 would see a $92.77 increase in real estate taxes, resulting in a 2012-2013 tax bill of $4,850.56 (over a 2011-2012 tax bill of $4,757.79).