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Official Results: Residents APPROVED the referendum!
Questions? Email us at vote@freeholdtwp.k12.nj.us
A BOND REFERENDUM COMPLEMENTS
GOOD PLANNING
A BOND REFERENDUM COMPLEMENTS
GOOD PLANNING
Aside from providing a highly ranked education, our schools must provide a healthy, safe, secure environment. The Board of Education remains committed to being fiscally responsible by planning for a bond referendum that will address the highest priority infrastructure and facility improvements. Bond funding would allow the district to address the needs:
quickly by gaining upfront funding, and
efficiently by capturing state aid to offset the project costs.
If Freehold Township School District does not access the debt service aid from the state, these critically needed improvements must still be made.
WHAT’S THE TAX IMPACT
WHAT’S THE TAX IMPACT
$135,468,916 in Improvements |
State Aid covers up to 40% of the eligible costs, estimated at approximately $45 million
If the ballot question is approved by voters, residents would see an increase of approximately $37 per month in school debt tax for a home assessed at the Freehold Township average of $611,704.
The investment would begin in July 2026 and be spread over 20 years among all taxpayers, even those who have not yet moved to the area.
ASSESSED VALUE
ASSESSED VALUE
Assessed value is different than market value. The market value is a home’s potential sale price, while assessed value – typically a lower figure – is used to determine tax bills.
To find your home’s assessed value, search your address in this tax assessment database:
The estimated tax impact per $100 of assessed property value is $0.072. To customize your estimated tax impact:
Find your assessed value using the button above and search for your address.
Look for “Assessment” and the “Total” under that heading lists your home’s assessed value.
Multiply your property’s total assessed value by 0.00072 for the annual tax impact.
To calculate the monthly impact, divide that number by 12.
Important to note: The district has existing debt from a previous school-improvements investment. The last payment on that investment will be made in February 2032. Starting in March 2032, taxpayers will begin to see a gradual annual decrease on their tax bills. The school tax decrease will occur whether the referendum passes or not.
If voters approve the March 11 referendum, the tax increase would begin in July 2026, so there would be an overlap of the two investments until March 2032.
WHAT OTHER FUNDING - OUTSIDE THE BUDGET
- HAS THE DISTRICT EXPLORED?
WHAT OTHER FUNDING - OUTSIDE THE BUDGET
- HAS THE DISTRICT EXPLORED?
The district is consistently monitoring and taking advantage of incentives and grants to complete maintenance upgrades and projects outside the budget. For example, Freehold Township School District has participated in:
Clean energy incentive programs
A state grant to replace $1.4 million in rooftop HVAC equipment at Applegate and Errickson
A federal grant program for clean energy and energy efficiency upgrades
A state program for energy-related improvements to facilities
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