This week, the New Jersey Legislature approved, by a slim margin, Governor Corzine's proposed school funding plan, which will boost education aid for the 2009 fiscal year by $532 million.

The plan proposes a new distribution of school aid, with districts receiving aid based upon student need, regardless of the schools' location within or outside of an Abbott district.  The formula is entitled, "A Formula for Success: All Children, All Communities."

According to the Governor and the Department of Education Commissioner, approximately $7.8 billion will be distributed to K-12 education for the 2009 fiscal year, an increase of $532.8 million.  All school districts will receive a state aid increase of at least 2 percent during the first year, and no school districts will see a decrease in state aid during the first three years of the program.

The source of the funding will still be primarily generated through property taxes.

Visit the State's website and click your district number to determine the property tax figures anticipated for your municipality.

Read the elements of the proposed school funding plan.

You can also read the January 8 Star-Ledger article, which describes the impact of the school funding formula on New Jersey residents.

(Source: NJAR)



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