Gloucester Township Schools Set For $7.1M Bump In State Aid

GLOUCESTER TOWNSHIP, NJ — The Gloucester Township School District is slated to receive a $7.1 million bump in state aid, according to figures released Thursday by the New Jersey Department of Education.

Gov. Phil Murphy's proposed budget for Fiscal Year 2024, which he introduced Tuesday, includes $10.8 billion in aid for K-12 public schools. Under the proposal, Gloucester Township schools would receive $64.8 million — an increase from this year's total of $57.7 million in state aid.

State aid is an influential factor in a school district's share of property taxes. Many districts say that cuts, or even flat spending, force them to raise taxes for local homeowners.

Property taxes in New Jersey are made up of three parts: school, municipal and county. Equalization aid from the state budget is meant to ameliorate funding gaps at school districts throughout New Jersey.

Under Murphy's proposed budget, Gloucester Township schools would receive a 12.4 percent bump in state aid from this year.

The state budget isn't final. The State Legislature has several months to make adjustments. Lawmakers must approve a balanced budget for the governor's signature before July 1, when the new fiscal year begins. Read more: Tax Relief, Debt Service, Transit Fare Freeze: 3 NJ Budget Takeaways