"With the approval of the 2015-2016 Shore Regional budget, this Board of Education has saved the taxpayers of the communities we serve, millions of dollars by not increasing the tax levy," Shore Regional Business Administrator Dennis Kotch said in a release.
With a nearly 4 percent reduction in from last year's share of the regional school tax, the owner of the average assessed home in Sea Bright should see a reduction of $790 in school taxes for 2015-2016. The borough's tax levy was reduced by $292,510 after seeing budget fluctuations of 0.4 percent on average over the last ten years.
"This can be attributed to the State funding formula and the fact that the Shore Regional High School District submitted for a Community Disaster Loan (CDL) for relief on their behalf," a release from Shore Regional states.
Shore Regional Superintendent Thomas Farrell said he was pleased with the finished budget.
"This is the third budget that I have been a part of," Farrell said in a release. "We are very proud of this accomplishment and we can attribute it to sound fiscal management and shared services, with no loss of programming for our students. Our B.A. and Board of Education should be commended."