The Perkiomen Valley School Board is poised to adopt a final $132.9 million budget on Monday, June 10, that includes a 2.59% tax increase. During a recent work session, business administrator James Weaver reported that the budget includes $129.3 million in revenues and $132.9 in project expenses. The budget deficit will be closed using about $1.5 million in surplus from the fund balance, with the remainder covered by the tax increase. The projected tax increase is less than one discussed about a month ago, with Weaver attributing the change to a recent surge in earned income tax revenues. If adopted without change, the millage rate will increase from 36.38 mills to 37.32 mills for a tax increase of about $170 on a home assessed at $180,000.
Source: Pottstown Mercury; 6/4/2024