Randolph School Board Adopts Budget With Lower Than Projected Tax Rate

(Randolph) Residents in the Randolph School District will see a lower tax rate than anticipated on the school portion of their tax bill. The recently finalized mill rate of $12.50 per one-thousand dollars of assessed value is an 87-cent drop from the number home owners saw last year. Following the approval of a facilities referendum in 2015, early projections estimated the mill rate would be $13.54 per year. In the three years since, the figure has been below that number with the 2018-2019 mill rate seeing the most significant drop. Director of Business Services Ryan Cashman credits the decrease to the district’s ability to correctly anticipate the interest rates for referendum borrowing. Cashman says a surplus in a fund that was established to pay back the loan has also allowed the district to stabilize the mill rate. District expenditures total just over $7-million dollars with a tax levy of $2.7-million dollars.