Chatham Taxes Would Drop $3K Under Christie’s Proposed ‘Fairness Formula’

Chatham, N.J. – New Jersey Governor Chris Christie’s “Fairness Formula” plan would equalize per pupil spending across the state if approved, and drop annual property taxes by thousands in many towns.

The plan, unveiled earlier this week, takes aim at the disproportionate amount of state funding allocated to Abbott school districts, which are located in “poorer, urban” areas of the state.

Christie called for a flat rate of aid in the amount of $6,599 per student enrolled in grades kindergarten through 12 in New Jersey. According to the Governor, who laid out more details of the plan Wednesday night on New Jersey’s 101.5 radio station, an estimated 75-percent of towns would see more state aid while residents in those municipalities would see their annual property tax bill drop.

See related: Christie Unveils New School Funding Plan; NJEA Calls It ‘Despicable’

The plan was met with immediate opposition, particularly from the New Jersey Education Association, calling the proposal “despicable” and an idea that would set the state’s progress in education back decades.

Locally, the difference in annual tax bills is eye-opening.

According to a recently launched website outlining The Fairness Formula, which can be seen here, Chatham Borough and Chatham Township would see significant drops in property taxes.

As previously reported by Patch, Chatham Township and Chatham Borough, which share one school district, pay some of the highest property taxes in the state. The average homeowner in the township pays $13,547 and $12,663 in the borough.

Under the proposed Fairness Formula, Chatham Township would see an average property tax decrease of $3,795, and the Borough would see a decrease of $3,351.

See related: How Will Christie’s School Funding Plan Impact Chatham Taxpayers?

The plan, Christie said in his radio interview, would be phased in over three years. He called the potential change in property tax payments for New Jersey residents “revolutionary,” and that changing the school funding formula was the single-most effective way to change property tax problem in the state.

See clips from Christie’s radio interview here: