Tamaqua Area School District residents will see an increase in property tax rates in the 2018-19 school year.

The school board voted unanimously Tuesday night to approve a final budget for the coming year that includes a 5 percent tax increase. They also voted to replace elementary school Principal James J. Fasnacht, who is retiring effective June 30.

The budget includes $30,995,379 in expenses.

The tax rate for residents will be 38.47 mills, up from last year’s 36.58-mill tax rate. The owner of a home valued at $100,000 and assessed at $50,000 will pay about $9 more each month in property taxes than they did this year.

The new tax rate will help cover increases in the district’s contribution to the Public School Employees Retirement System and the cost of cyber school education for students living in the district, according to Connie Ligenza, district business manager. The final budget includes just one additional teaching position, in the district’s special education department.

The board also agreed to take $1,558,272 from its fund balance in order to balance the budget. At the end of next school year, the district will have $2,327,455 in its fund balance.

Fasnacht was appointed elementary school principal in 2016, and served as an assistant principal at the elementary for eight years prior.

He will be replaced by his assistant, Laura Shook. Her salary will be $83,000 per year.

Shook’s new assistant principal will be Jim Betz, whose salary was set at $73,000 per year.