New Jersey Schools Funding Overhaul | Jersey News

Jersey City News Today | 2 Min News | The Daily News Now! · Aug 14, 2026 · 2m

New Jersey Governor Mikie Sherrill is launching a major overhaul of the state’s complex and controversial school funding formula, aiming to make it more predictable, transparent, and fair. Long criticized for causing budget instability and contributing to high property taxes, the current system—factoring in enrollment, local taxes, and other variables—has left districts scrambling with cuts, layoffs, and program eliminations. A bipartisan steering committee, led by Education Commissioner Lily Laux and aided by the nonpartisan Hunt Institute, will work with educators, parents, business…