The Franklin Regional school board approved a 2019-20 budget Monday night that raises property taxes by 2.2 mills.

The proposed final budget of $59.7 million is about $1.45 million more than the 2018-19 budget.

Most of that increase is the district’s contribution to teacher pensions, or the PSERS system, which this year rises from 33.43 percent to 34.29 percent.

The 2.2-mill tax hike (98.06 mills total) will mean about $76 more in taxes for a homeowner with the median assessment of $34,400.

A mill is projected to raise $354,000 in revenue.

The board also voted Monday night to award $48.62 million in bids for the Sloan school project, which will renovate Sloan Elementary School to serve students in kindergarten through second grade, and construct a new elementary school for grades 3-5.

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