Haddonfield, Haddon Township Schools Set For Bumps In State Aid: See How Much

HADDONFIELD, NJ — Schools in Haddonfield and Haddon Township are set to receive increases 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, the districts would receive the following:

• Haddonfield School District: $3,024,370 in aid for Fiscal Year 2024 ($449,438 more than the current year — a 17.5 percent increase)
• Haddon Township School District: $9,962,936 in aid next year ($1,464,884 more than this year for a 17.2 percent increase)

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.

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