The Lakewood Public School district is proposed to see an increase of nearly $1 million for the 2024-2025 school year, according to new information from the New Jersey Department of Education.
The 3.6% proposed increase in aid, which would bring Lakewood’s total public school aid to $27,541,324, is a small part of an overall $908 million increase in K-12 education statewide, included in Governor Phil Murphy’s proposed budget for Fiscal Year 2025.
By adding $908 million in K-12 formula aid, the Governor is proposing to fully fund New Jersey’s school funding formula for the first time since it was established in 2009. This funding represents the single largest investment in the $55.9 billion budget proposal.
The governor’s budget proposal, which needs to be approved by the Legislature, marks the seventh and final year of the seven-year phase-in to fully funding New Jersey’s school funding formula.
This transition was required in a 2018 law, S2, designed to address inequities that had resulted from years of overfunding some districts while failing to adequately meet the needs of other growing districts
However, despite many school statewide seeing massive amounts of addition aid, other local school districts in Ocean County will see their funding severely reduced.
In Toms River, the proposed budget has the Toms River Regional School District facing a $2.8 million cut, while the Jackson Public School will see a decrease in funding to the amount of $4.5 million – a staggering 16% cut from the current year.
Jackson, however will get some of that funding back in form of stabilization aid.
And yet our local taxes will still increase as usual. Look at what happened when the federal government sent out the covid checks, our local property taxes went up even with the kids learning from home (lower district operating costs). Then we had the larger homestead rebate checks and up go the taxes big time again. See the pattern?
They keep printing money and we’re the ones to pay the price the pattern is
“Fed prints money for a “good” reason from thin air”
“Taxes go up/refund go down”
Like bukele said the problem aren’t taxes even though they are high the problem is “…they are not really funding the government…so who’s financing the gov…gov is financed my treasury bonds…which are bought by printing money and what backs that up the treasury bonds?the bothemselves. It’s all an illusion that we’re financing the gov with our taxes