Corzine Releases New School Spending Plan
Categorical state aid and other information for each school district may be found at the following links.
K-12 State Aid Summary, Budget Amounts and Demographic Data
K-12 State School Aid Detail
Explanatory Notes for Aid Allocations
Next year state income tax revenue will increase by $886 million, bringing the total “property tax relief fund” for public school aid to $12.5 billion. The information released today provides information on the allocation of only 62 percent of state school aid, $7.8 billion. It does not include $4.7 billion in school aid that will be allocated to districts for “regular preschool”, payroll taxes, pension contributions and debt service. It also doesn’t include the allocation of $918.3 million in federal aid.
Currently, the average spending per student for New Jersey is $16,000. Next year the average will rise to $18,000 and will be funded through $12 billion in local school property taxes, $12.5 billion in state income taxes (Property tax relief fund) and $918.3 million in federal aid to the state’s public schools.
Adequate Spending per Student
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