03.15.21 Proposed School Budget and its Projected Tax Implications

The Essex Westford School District Board has finalized its proposed school budget which will be voted on in April.  The proposed budget is $81,732,048, a 1% decrease from last year.  

 

For those who like the details:

  • Education Spending (a key number in determining tax rates) is down less than 1% (-0.03%)

  • Equalized pupils are decreasing by 29.21 pupils

  • Education Spending per Equalized Pupil is up less than 1%. (.74%) 

  • The resulting projected equalized tax rate (using the latest figures the legislature is working with) is down 2.68% from last year to $1.4853

  • Our merger incentive decreases by two cents each year.  The coming year, FY22, is the last year of the incentive.  The projected incentivized tax rate of $1.4653 is down to 1.43%

  • The Common Levels of Appraisal are decreasing in all communities (the state views our properties as more valuable than they are assessed for).  Essex Town and Essex Junction’s CLA went from 91.86% to 89.05%, while Westford’s CLA went from 91.34% to 89.80%.

 

Bottom Line: For those who pay their education taxes based on the value of their property, here are the projected homestead tax rates after the CLA adjustment is applied:

  • Essex Town and Essex Junction:  ew rate $1.6455 an increase of $.0276)
  • Westford: New rate $1.6317 an increase of $.0046

For those who pay based on income the rate is projected to increase from 2.42% to 2.46% of household income.

 

To review all FY22 budget materials please visit www.ewsd.org/budget.