the Board of Ed Can Raise our taxes
Governor Phil Murphy has signed two bills to provide financial relief for New Jersey school districts as they prepare their 2024-2025 budgets. The first bill, A4161, establishes the Stabilized School Budget Aid Grant Program, allocating $44.7 million to offset state aid cuts, granting districts 45% of their funding reductions. It also allows districts to exceed the current 2% cap on property tax levies. Governor Murphy stressed the importance of this support for local schools, while Acting Commissioner Kevin Dehmer noted it helps districts transition to full funding. Senate President Nick Scutari highlighted the law's role in stabilizing finances and ensuring educational quality. For more details from the state, please read: https://www.nj.gov/governor/news/news/562024/approved/20240514b.shtml