COST SAVINGS
BUILDING A STRONGER WEST MORRIS REGIONAL
Bond borrowing is a strategy that allows our district to address the needs of our schools quickly with upfront funding and efficiently by capturing state aid to help offset project costs.
West Morris Regional is in the unique position of presenting voters with a plan that would decrease school debt taxes by about 35 percent.
How much will the state contribute?
The total project costs for the referendum would be $26,047,276, with the state contributing $7,983,309 to reduce the local school debt taxes.
The state tax dollars, which residents of Morris County have already paid to the state, will only be given to West Morris Regional High School District if voters approve the referendum.
How much would I save?
The district is close to making final payments on the debt incurred from the last referendum. If the current referendum is approved, it will cost taxpayers less than the last referendum. As a result, taxpayers would see on average an approximately 35 percent decrease in the school debt portion of their property tax bills.
What if my assessment is higher or lower than the average assessed value?
A home’s assessed value is used to calculate taxes and is listed on a homeowner’s annual property tax bill. The assessed value is different and usually less than a home’s market value.
Once you know your home's assessed value, you can use these charts to estimate your cost savings. Scroll over the table and click the arrows to find your town.
