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School tax levy will decrease by $40,000 in Freehold Borough budget School tax levy will decrease by $40,000 in Freehold Borough budget FREEHOLD – The Freehold Borough K-8 School District Board of Education has adopted a $38.68 million budget to fund the operation of the district in 2021-22 and will collect $40,000 less in property taxes during the upcoming academic year. The budget, which was adopted by the board on May 3, will be supported by the collection of $10.74 million in local taxes to be paid by Freehold Borough’s residential and commercial property owners. Other revenue includes $887,805 to be appropriated from the district’s surplus fund (savings).

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