Pine-Richland budget includes no property tax increase for 4th straight year
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Pine-Richland School Board adopted a $106.3 million spending plan for 2023-2024 that includes no increase in property taxes for the fourth straight year.
Board members voted June 12 to adopt the spending plan, which is about $5 million larger than this year’s budget. The measure passed on an 8-0 vote, with Director Amy Terchick not present.
The spending plan for the fiscal year starting in July includes a $102.7 million general fund and $3.6 million earmarked for capital projects.
By maintaining the district’s 19.5867 millage rate, the owner of a property assessed at the district’s median value of $273,700 will pay $5,360.88 next year.
Pine-Richland’s millage rate has been unchanged since the 2017-18 school year, when it was increased by 2% over the previous year.
Capital projects planned for next year include renovations to the main and auxiliary gymnasiums at the high school; upgrades to the heating, ventilation and air conditioning systems at Pine-Richland Middle School; and replacement of the track surface at the stadium.
The bulk of the money to fund the new budget will come from property taxes that are expected to generate more than $66.2 million, or about $1.2 million more than this year.
Pine-Richland expects to collect nearly $11.6 million from wage and other taxes it levies.
The district also anticipates getting nearly $7.7 million from the state for its basic instructional subsidy and $1.9 million to cover the cost of providing special education. Both subsidies are larger than what the district received this year.
The single largest expense for the district is personnel, with salaries and benefits accounting for about 64% of the anticipated total spending next year.