TOMS RIVER, N.J. — The Toms River Regional School District is evaluating the potential sale of district-owned land in North Dover as it faces a $12.4 million budget deficit after having state aid cut $2 million this year.
That land is in a prime area of the township, ready for high-growth residential development.
District Superintendent Mike Citta confirmed that appraisals have been conducted on 27 acres of land near the Joseph A. Citta Elementary School and additional property by Toms River High School East, as the district explores selling the assets to generate revenue. “We’re waiting and being as hopeful as we can,” Citta said, referencing pending state legislation that could provide financial relief if the district does not cut spending after a 9.9% tax hike in 2024.
While the district blames the Murphy administration, some claim the district has a spending problem that hasn’t been resolved.
School officials have not disclosed potential buyers or estimates on the value of the land under consideration for sale, but the land is in a highly coveted section of North Dover where open space for development is at a premium.
The district’s financial mess has already prompted significant cost-cutting measures, and officials are now weighing whether the sale of the properties would be a prudent step in stabilizing the budget. No decisions have been finalized as the district continues to monitor developments in Trenton.
Toms River Regional is one of several New Jersey districts grappling with reduced state funding, forcing difficult choices as they seek to maintain educational programs and services.