Edison Schools Approves Budget With No Tax Increase For Residents

EDISON, NJ — The Edison Public School Board of Education approved a budget of $367.3 million for the 2024-25 school year. Board members voted on the budget during Tuesday’s meeting.

The budget includes $353 million in operating budget, $8,750 in debt service and $14 million in special revenue fund.

The budget will result in no tax increase for taxpayers in 2024, school officials said. This is the fourth year in a row that residents will not see their taxes increase due to the budget.

For an average home valued at $183,400, the owner will pay $5810 in average school tax in 2024, which is $11 less than what they paid in 2023.

"This achievement is a testament to our commitment to financial responsibility,” said Board President Biral Patel. “It has been an honor to be a part of this Board and the budget process for the last four years.”

Funds will go towards instruction, extracurriculars, athletics; employee benefits, charter schools and more.

For the 2025 school year, the district is slated to receive an additional $20 million in state aid, a 28.3 percent increase from 2024. Edison is among 200-plus school districts that saw school aid increase in double-digit percentages.

More than 60 school districts will see funding cuts in double-digit percentages, according to proposed district-by-district funding data released by the state in February.

Despite the funds received by the state, Patel reminded residents that the Board needed to be prudent in its spending keeping in kind potential aid cuts.

“As we strive to remain fiscally responsible, we must also be very mindful of the potential future reductions in state aid and the importance of maintaining prudent budgeting practices,” Patel said.

However, the increase in state aid played a major role in reducing the school tax burden on residents this year, Patel said.

“We extend our gratitude to our legislators, particularly Assemblyman Rob Karabinchack for his ongoing support and dedication towards the school district,” Patel said.

The money that the district saved in capital reserve and the funds from the state will go towards making capital improvements.

The Board president said that the funds allocated to capital improvement will go a long way in addressing the overcrowding at the school district.

Here’s how much will be spent and where:

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