School taxes for Loch Arbour residents are going up more than 550 percent.

A new state law requires school taxes for Loch Arbour be based on property assessments, not on how many students the village sends to Ocean Township schools. Loch Arbour only sends 23 kids to the schools, a fraction of a student body of 4,200.

The hike comes in July. Residents will see increases in the thousands, like Tom Collins of Euclid Avenue. Collins currently pays $9,000 in property taxes each year. That payment will jump to about $21,000.

The new law is part of Gov. Corzine's school funding reform act.