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Waterloo school board sets tentative budget with tax increase

  • / Updated:
  • Staff Report 

The Waterloo School Board unanimously approved a tentative $49.8 million budget for the 2024-25 school year on Monday, maintaining the same level of spending as the current year.

Despite no overall increase in spending, the proposed budget includes a 2% rise in the amount raised by taxes, totaling $13 million. This adjustment would increase the tax rate to $17.89 per $1,000 of assessed value, costing homeowners with a $100,000 assessment an additional $30.80 annually.

Finger Lakes Partners (Billboard)

The budget plan, set for a public hearing on May 7, factors in 4% salary increases for employees and rising costs in retirement and health insurance expenses. The district anticipates a significant $1.3 million drop in COVID-related funding, which will lead to cuts in staffing and the elimination of a free before-and-after school program.

The community will vote on this budget, alongside other propositions and school board seats, on May 21.