The Hatboro-Horsham School Board unanimously approved its budget for the 2023-2024 school year at its meeting Monday night.
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HATBORO / HORSHAM TOWNSHIP, PA —The Hatboro-Horsham School Board has unanimously approved its 2023-2024 $126.9 million final budget that comes with a 3.68 percent tax increase, its highest in the past 17 years.
For the average Hatboro home assessed at $121,121, residents will pay $3,565.93 in taxes over the next school year on a millage rate of 32.65. That means the tax bill will increase by $141.80.
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For the average Horsham home assessed at $183,001, residents will pay $5,586.31 in taxes over the next school year on a millage rate of 32.65. That means the tax bill will increase by $213.58.
The state’s Act 1 limit (the maximum allowable tax increase) for 2023-24 is 4.1 percent.
While school officials said that taxes have never reached the Act 1 limit, the school district has raised taxes for 17 straight years, according to figures provided.
The 3.68 percent tax increase is the highest by the district since 3.09 percent in the 2007-2008 school year.
At its meeting for the preliminary-final budget, Bill Stone, the district’s director of business affairs, said that thedistrict eliminated a projected $2 million deficit.
Budget highlights include competitive compensation, including a new support staff compensation model, updated administrative target salaries, and funds to increase athletic coach compensation.
Under student achievement, the budget provides for staffing efficiencies, the addition of mandated positions, the implementation of a per pupil allocation formula, and strategic use of ESSER funds in their final year.
The budget also provides funding for the new Keith Valley Middle School with a debt service budget increase to $8.4 million and offset by strategic debt service reserves.