In a recent government meeting, officials discussed funding options for an upcoming referendum aimed at addressing community needs and maintaining staff salaries. The board presented three funding options, each with varying financial implications for taxpayers, particularly those with properties valued at $400,000.
The first option proposes a total of $6.4 million, increasing by $1.6 million annually over four years. This would result in an annual tax increase of approximately $373 in the first year, culminating in a total increase of $1,554 by year four. However, this option would necessitate cutting $1.6 million from the budget, equating to the salaries and benefits of 23 teachers, and would keep teacher salaries below the regional average.
The second option, totaling $7 million, would raise taxes by about $404 to $430 annually, leading to a total increase of $1,677 by the end of the four years. This option maintains current staffing levels but similarly does not align salaries with the area average.
The third option, which totals $7.6 million, proposes a tax increase of approximately $432 to $456 per year, resulting in a total increase of $1,785 by year four. This option does not require additional cuts and aims to raise starting teacher salaries to be more competitive with the area average.
The board emphasized the importance of community feedback in deciding which option to pursue, with comment forms distributed for residents to express their preferences. The final decision will be made in preparation for the November election, reflecting the community's priorities and tax tolerance.