MONTVALE—The Pascack Valley Regional High School District approved a $62.7 million 2023–2024 budget at its May 1 board meeting, an overall increase of 3.27% in local tax levy from the prior year’s budget.
The $56,393,349 tax levy for 2023–2024 will lead to school tax increases in Hillsdale and River Vale while Montvale and Woodcliff Lake will see declines in their annual school tax.
Based on the state tax formula, Hillsdale’s average assessed home will pay an extra $65.01 in annual taxes; River Vale’s average assessed home will pay a $159.31 annual increase.
Montvale’s average assessed home will see a $216.91 decrease in annual taxes and Woodcliif Lake’s average assessed home will see a $77.71 annual tax decrease.
On the average assessed homes in the four towns, taxpayers will pay $3,547 in Hillsdale; $3,903 in River Vale; $3,819 in Montvale; and $5,339 in Woodcliff Lake.
An average assessed Hillsdale home is $475,032; River Vale is $592,000; Montvale is $561,962; and Woodcliff Lake is $857,184.
The budget’s annual tax levy is divided up based on a state formula taking into account taxable property wealth and student enrollment among the four towns, said Yas Usami, the regional district’s business administrator.
Usami said the state determines the tax percentages annually.
Hillsdale and River Vale students attend Pascack Valley HIgh School in Hillsdale and Montvale and Woodcliff Lake students attend Pascack Hills High School in Montvale.
The vote was 6-0 to approve the $62,663,064 budget. Voting to approve were Kelly Blundy, Kristin Martin, James Stankus, Debra Stephans, Michael Weaver, and board vice president Gini Varghese.
Absent were board president Joseph Blundo, Elizabeth Calderone, and Pat Luisi.
Usami provided a budget overview and the district posted a user-friendly 2023 budget on its website. The meeting’s YouTube video is posted on the district website.
Usami said the the regional school district’s tax levy was divided up by the state as follows: Hillsdale, 22.634% or $12,763,815; River Vale, 25.14%, or $14,177,294; Montvale, 26.861%, or $15,147,956; and Woodcliff Lake, 25.635%, or $14,304,284.
Usami said contributing factors to the yearly 3.27% budget increase (which increased local tax levy by 3% overall) was an $886,083 jump in student transportation costs, an $868,307 increase in health/dental insurance costs, and a $562,273 increase in out-of-district tuition costs.
An itemized chart presented by Usami showed that 69% of the budget was employee salaries and benefits, with salaries comprising 55.3% and employee benefits 13.7%.
Other large budget categories included tuition at 9.3%, and transportation at 5.6%.
A 2023-2024 list of expenditures showed total salaries as $34,656,523 and total employee benefits at $8,613,121. The presentation showed an additional 3.4 full-time-equivalent (FTE) teacher positions, including three full-time special education professionals and a speech therapist increased from a 0.6 FTE position to full time.
Capital projects in 2023-2024 include a Pascack Valley lecture hall/media center area roof replacement for $923,700 and a Pascack Hills “C” Wing roof replacement for $754,600. The total capital projects budget $1,678,300.
Usami also showed a tax impact history chart that highlighted the state tax percentages allocated locally from 2016 through 2023 for the district.