Methacton School Board Approves 2014-2015 Final Budget
The Methacton School District Board of School Directors voted to adopt a final budget of $99,557,372 for the 2014-15 school year during the Board's June 17, 2014 meeting. The final budget includes a 2.1% tax increase, which equates to an increase of .57 mills, resulting in a proposed millage rate of 27.90.
The increase in the District's required contribution to the Pennsylvania School Employee's Retirement System [PSERS] and increasing special education and charter school costs, combined with stagnant federal funding, localand state revenues, present the greatest challenges in building the budget.
PSERS continues to be the single largest expenditure increase in the 2014-15 budget. Net of state reimbursement, Methacton’s cost increase from 2013-14 to 2014-15 for this budgetary item will increase by over $700,000.
A resident whose home is valued at the average residential assessment of $180,767 would see a $103.73 increase in real estate taxes, resulting in a 2014-15 tax bill of $5,043.43 (over a 2013-14 tax bill of $4,939.70).
This increase will be partially offset by the homestead/farmstead gaming funds distribution. For the 2014-2015 fiscal year, the average homeowner will have their property tax increase offset by $227.56. This gaming funds distribution represents an increase over 2013-2014, during which the average homeowner received $215.32 to offset any property tax increase. Learn more about the homestead/farmstead exclusion here.