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Central Valley School Board increases taxes by 2.07 mills
The Central Valley School Board adopted a 2018-19 budget on June 21 that increases real estate taxes by 2.07 mills.
The spending plan includes revenues of $36,022,129 and expenditures of $36,759,448, with the difference of some $737,000 to be covered by the district’s fund balance.
After removing that amount, the fund balance contains $342,000, according to Business Manager John Maly. That could be adjusted when the books are closed on the current school year.
Taxes supporting the 2018-19 budget include:
•Real estate tax of 57.74 mills (a 3.7 percent increase. or 2.07 mills) •Local services tax of $5 per person •Earned income (wage) tax of 1 percent •Mercantile retail tax of .75 percent •Mercantile wholesale tax of .5 percent. •Real estate transfer tax of 1 percent
“We’ve tried to be very fiscally prudent,” said Superintendent Nicholas Perry. “But something’s got to give at the state level regarding these pensions.”
Perry was referring to a common problem facing many school districts across Pennsylvania: the increased costs of the state’s Public School Employees’ Retirement system, commonly called PSERS.
Taxpayer contributions have increased sharply in recent years, since state lawmakers strengthened the law to boost payments.
Contributions by Pennsylvania and its school districts will continue to be significant as unfunded liabilities are paid down, according to pennlive.com.
Central Valley also faces increases in contract-based salaries and benefits, including health insurance, Perry said.