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2021-2022 Final Budget Press Release

2021-2022 Final Budget Press Release
Posted on 06/15/2021
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Patricia Sharp
Garnet Valley School Board Secretary
 Phone: (610) 579-7374
Email: sharpp@garnetvalley.org

FOR IMMEDIATE RELEASE & PUBLICATION

[Glen Mills, PA] June 15, 2021

Garnet Valley School District to Adopt Final Budget for 2021-2022 School Year

On June 14, 2021, the Garnet Valley School Board approved the 2021-2022 final general fund budget totaling $116,094,689, an increase of $4,260,365 (3.81%) in expenditures over the current year. The final budget requires a property tax millage rate of 18.4414 (Bethel: 18.6471) mills, an increase of 0.00% over the current year; this represents the lowest Garnet Valley School District tax increase in over 20 years. A property assessed at $300,000 in Chester Heights or Concord would incur tax of $5,532.42, a property assessed at $300,000 in Bethel would incur tax of $5,594.13. The final budget is under the District’s Act I Index of 2.60%.

The millage rate will decrease, from 33.4028 in the current year to 18.4414 in 2021-2022, due to the Delaware County property value reassessment. As a result of this reassessment, the Districts total assessed value increased from $2,688,538,464 to $4,869,720,183; the decline in millage to 18.4414, results in a revenue-neutral result from one year to the next. The impact to individual taxpayers will vary; some will experience a tax increase, some a decrease and some will pay almost the same amount as the current year.

The District is able to keep the millage rate at the revenue neutral level of 18.4414 due to various factors. The major driver is new properties, and additions to existing properties, that has created growth to our assessment since the County reassessment was completed. Other factors enabling the District to pass a 0% tax increase are: real estate tax collection rates expected to return to pre COVID-19 levels, federal funding provided to mitigate COVID-19 expenses and a commitment of current year savings to future years designated for the purpose of reducing tax increases.

“The goal of the District, from the start of the budgeting process, is to keep any tax increase as low as possible without impacting programing. For our 2021-22 budget cycle, this was compounded by the existence of the County-wide reassessment which, by itself, will negatively impact a number of district taxpayers. Thank you to all staff involved in making a 0% tax increase possible.” Greg Chestnut, Finance Chair of the Garnet Valley Board of Directors.

“I am pleased that we were able to achieve a 0% tax increase, all while maintaining the level of educational opportunities our students and families have come to expect. The Garnet Valley School Board appreciates the efforts of the Finance Committee and our district staff.” Scott Mayer, President of the Garnet Valley Board of Directors.

The 2021-2022 final budget, in PDE format (PDE-2028), is available on the District’s website. The document can also be reviewed at the Garnet Valley District Administration Office, 80 Station Road, Glen Mills, PA; contact Patricia Sharp at 610-579-7374 to make arrangements.

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