Construction of a new elementary school in the Brentwood Borough School District will not have an impact on property taxes next year.
Brentwood school officials propose a $33.06 million budget for next school year that maintains a millage rate of 39.1977.
A Brentwood property owner with the borough’s median assessed value of $86,400 will continue to pay about $3,387 annually in school taxes.
One mill of taxes brings in about $393,000 in revenue to the school district.
Brentwood officials plan to open a new elementary school this fall, with costs estimated at just under $39 million. It would consolidate its two existing elementary schools, Elroy and Moore.
District spokesman Jeff Nelson said debt service payments on bonds for the new elementary school increased by $270,600 in the proposed budget.
However, Brentwood received $475,480 through the state’s “Ready to Learn Tax Equity Supplement,” and the district will offset the increase with that funding, Nelson said.
There are no cuts in the proposed budget, Nelson said. The district will add a school psychologist. That position will be funded through a state grant.
Due to change in Allegheny County’s Common Level Ratio, Brentwood has seen a decrease to its assessed values, therefore experiencing loss in revenues.
The common level ratio is used by the county to determine the fair market value of real estate properties. The ratio this year is 50.1%, which means assessed property values in the county are set at about half of their current fair market value.
This school year, Brentwood’s assessed value decreased by about $4.4 million from the prior year, translating to a $173,900 loss in revenue, Nelson said.
For the upcoming school year, assessed values decreased by $2 million, which equals a loss of $80,000 in school district revenues.
Brentwood’s school board will consider approval of the budget at a meeting June 15.