Taxpayers in South Toms River and Beachwood could see their school tax rate decrease, while taxpayers in Toms River and Pine Beach face a proposed tax increase.
Though the regional school budget and its tax levy is increasing, how that is calculated into the four tax rates for the district's towns depends on the ratable base, officials said.
Each of the four towns that make up Toms River Regional — Toms River, Pine Beach, Beachwood and South Toms River — pay into the budget with a tax rate calculated based on the size of each town's ratables.
As new taxpaying businesses are built or closed in a town, the ratables base varies from year to year and is recalculated, affecting the tax rates for Toms River Regional.
That's what lead to a decrease in the tax rate for South Toms River and Beachwood and an increase for Toms River and Pine Beach, according to the school district.
The school budget will be outlined in a budget presentation at 7:30 p.m. Wednesday, March 28 . A “user-friendly budget” is posted online. The school board will vote on the budget March 28.
Toms River, Pine Beach proposed tax rate increase
For Toms River residents, the tax rate could grow 3.96 cents to $0.7785 per $100, up from $0.7389 per $100.
In Toms River, where the 2011 average home assessment is at $376,778, the proposed school tax could amount to a $149 increase to a $2,933 annual tax payment.
Pine Beach residents face an increase of 0.4 cents per $100 in the proposed budget.
Pine Beach residents would be assessed a tax rate of $0.7889 per $100, up from $0.7849.
In Pine Beach, where the 2011 average home assessment is at $326,621, the school tax amounts to a $2,576 annual proposed tax payment, or $13.71 more than last year.
Beachwood, South Toms River proposed tax rate decrease
Beachwood residents would see a decrease of 0.1 cents per $100 over 2011-12, which would amount to an annual tax bill of approximately $3 less than last year.
Beachwood residents would be assessed a tax rate of $0.7303 per $100, down from $0.7313. In Beachwood, where the 2011 average home is valued at $260,388, the school tax would amount to a $1,901 annual tax payment.
South Toms River's proposed school tax rate would drop 0.6 cents.
South Toms River residents would be assessed a tax rate of $0.7257 per $100, down from $0.7317. In South Toms River, where the 2011 average home assessment is at $215,502, the school tax amounts to a proposed $1,563 annual tax payment.
This means a decrease of 0.6 cents per $100 over 2011-12 for South Toms River taxpayers, or $12.10 less than last year in the annual tax payment.
Total tax levy for the district
The total anticipated tax levy revenue for Toms River Regional Schools would be $132.719 million, up more than $1.3 million.
Including debt service, the total tax levy would grow 1.2 percent, to $139 million for the district.
School taxes are just a portion of the property tax bill each property owner faces, along with municipal and other property taxes.