There will be no increase in real estate taxes in the Deer Lakes School District for the coming academic year.
The school board gave final approval Tuesday night to a $41.2 million budget that will hold the line on the real estate tax rate at 22.69 mills. The budget for the school year that ends June 30 was $40.7 million.
The average residential assessment in the school district is $107,630. That means the average homeowner will pay about $2,442 in property taxes in 2022-23.
Officials said real estate taxes have increased only once in the past 10 years.
The homestead and farmstead exclusion for the coming year will be about $252 for the 4,619 approved properties in the school district.
About 70% of the budget is allocated for staff salaries and benefits.
The school district plans to pay down its $60.3 million long-term debt by $2.4 million and expects to have a $1.3 million fund balance by the end of the 2022-23 school year.
The budget passed by a 7-0 vote with board President Louis Buck approving, along with Jeremy Love, William Lupone Jr., Jonathan Majernik, Kristi Minnick, Larry Neidig and Sam Smallwood. Cristy McCloskey and Traci Stotler were absent.
George Guido is a Tribune-Review contributing writer.