The Board of Education and administration have aligned this referendum with the final payments from a previous bond, which will be fully paid off in 2025–2026. This timing helps minimize the impact on taxpayers by replacing old debt with new debt at a steady rate. 

If voters approve the referendum, the new debt is projected to LOWER TAXES by an average of $17 per year on the average assessed home. 

This is due to existing school debt being paid off by 2027. 

The district has been prudent to budget at or below a 2% tax levy cap with allowable adjustments for nearly 15 years, with fiscally responsible oversight by the Board of Education. The district has saved funds in capital reserve to finance maintenance and upgrades averaging over $1 million dollars per year for the past 10 years without issuing new debt or increasing taxes; however, inflationary pressures, salaries, benefits and other factors have eroded the district's ability to continue to replenish reserves with capital reserves being approximately $750 thousand dollars as of July 1, 2024.

The State of New Jersey allows for up to 40% of allowable costs to be tapped into as a type of state aid if the district utilizes a referendum process, offsetting any costs and interest associated with issuing new debt. 

The State of New Jersey's contribution effectively negates any interest on debt issued. This incentive along with expiring debt provides an opportunity to replace aging infrastructure and reflect on the modern needs of students.