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Perk Valley’s school budget will increase taxes by 2.6%

An exterior view of Perkiomen Valley High School. (MediaNews Group file photo)

PERIOD — School taxes will increase 2.59% if the school board leaves unchanged the final $132 million budget, which was revised Monday night.

The final vote will take place during next week’s voting meeting, on June 10.

The tax increase equates to a tax bill $169.55 higher than last year for a home assessed at $180,000.

6/3/2024 PVSD School Board Working Session

During the Monday, June 3, work session, Business Administrator James Weaver said the budget now stands at $129,275,221 in revenues and $132,876,549 in project costs, leaving a deficit of approximately $2 million.

To partially close that gap, the budget calls for using $1,551,649 in surplus funds, which in school budget parlance is called “fund balance,” with the remainder offset by the higher millage.

As a result, the current rate of 36.38 mills will increase by 0.94 mills to 37.32 mills.

This graph from Monday's budget presentation shows the impact of the proposed 2.59 tax increase.  (Image via Perkiomen Valley School District)
This graph from Monday’s budget presentation shows the impact of the proposed 2.59 tax increase. (Image via Perkiomen Valley School District)

He said the looming tax increase was expected to be higher 30 days ago, but income tax revenues have soared recently, bringing the number to about where it was last year and where Berkheimer’s tax office predicted it would be again in December.

Eligible homes can participate in the state’s Homestead/Farmstead tax credit program, the maximum of which was increased by $51 this year by the state, making the maximum rebate for this year $336.02.

Weaver also informed the board that the cost of school lunches will increase by 10 cents next year. That price has not been increased since 2021. Breakfast will still be free.

Board Chairman Laura White thanked the entire finance office “for the work you have put in. To get to where we were even 90 days ago is truly remarkable, especially when we look at the other districts around us and what they are dealing with. their budgets, it is commendable and we really appreciate you being here in Perkiomen Valley.”