Red Bank school board adopts $36 million budget for 2021-22
RED BANK – The Red Bank Borough Public Schools Board of Education has adopted a $36 million budget that will fund the operation of the K-8 school district during the 2021-22 school year.
The budget, which was adopted by the board on April 27, will be supported by a tax levy of $18.8 million to be paid by Red Bank’s residential and commercial property owners.
The school district’s 2020-21 budget totaled $33.7 million and was supported by a tax levy of $18.6 million.
In 2020, the average home in Red Bank was assessed at $376,671. The K-8 school tax rate was 83.23 cents per $100 of assessed valuation. The owner of a home assessed at that amount paid about $3,135 in K-8 school taxes.