Margate school tax rate drops with proposed budget
By SUZANNE MARINO
Staff Writer
MARGATE – The Margate Board of School Estimate will meet 4:30 p.m. March 29 to finalize the school district budget. The public is invited to attend and ask questions about the 2007-2008 spending plan.
The total budget for the Margate School District, a Type I district, is $12,970,098. Of that amount, $10,173,118 is to be raised by taxes. That is the same amount raised by taxation in the 2006-2007 school year.
If accepted as proposed, the budget will result in a decrease in the tax rate from $0.307 per $100 of assessed property value to $0.303. That translates to a drop of $4.70 in school taxes for next year for a home assessed at $100,000.
The decrease is due in part to an increase in the ratable base for the city. According to School District Superintendent Dominick Potena, there were no positions reduced in this budget nor were any positions created.
