Holley expects school budget will be under tax cap

HOLLEY – School officials are putting together the budget for the 2024-25 school year, and the spending plan is expected to be well under the district’s authorized tax cap.

Sharon Zacher, the assistant superintendent, said the budget is currently projected at a 1.99 percent tax increase. Holley’s tax cap cushion allows for up to a 3.972 percent tax increase, with the district’s carrying over some tax cap room from prior years, Zacher told the Board of Education on Monday.

While some school districts are slated for a decrease in state aid in the governor’s executive budget, Holley’s total state aid would increase by about $600,000, from $20,095,541 to $20,665,520.

However, Zacher said an on-time state budget seems unlikely by April 1, with some disagreements to be resolved among the State Legislature and governor.

Zacher feels comfortable forecasting a budget at $29,115,000, which represents a 2.4 percent spending increase, or up $695,000 from $28,420,000 in 2023-24.

Holley’s preliminary budget would maintain its existing programs and add one full-time elementary teacher, a 0.4 part-time Spanish teacher, and 0.2 part-time science teacher.

The budget with a 1.99 percent tax increase would raise the tax levy by $155,926 – from $7,835,466 to $7,991,392.

Zacher said the budget will be finalized next month by the board of education and then go for a public vote on May 21.