School Finance in New Jersey - Essay Example

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School Finance in New Jersey

Free education for students who come from poor neighborhoods set a leveled ground for employment and competition in a knowledge-driven market. Other private universities and schools receive income from; school fees, selling and leasing commodities, real estate business, foreign corporate equities, debt securities, treasury securities, corporate bonds, common stock and mortgage-backed securities1. In New Jersey, tax levied on the property is $1 for every $100 of assessed taxable value. The tax bill paid by schools in the district is calculated using a general tax rate of 0.03758 (New Jersey State, 2012). A property that has an assessed value of $200,000 pays a tax bill of $7,516. This is the total amount of $1 for every $100 in the value of the property2. The greatest financial challenge facing the school district in New Jersey is the freezing of financial aid that assists the public schools. The state froze this aid under the federal and state mandate. Due to this freezing legislation, the level of student enrollment and costs of learning and property are on the increase. Also, it has led to a loss of about $846 million that was allocated for school finance New Jersey state (New Jersey School Board Association, 2010). ...Show more

Summary

School Finance in New Jersey School Affiliation: Ratables for the 2006 School Year in New Jersey Ratables can be defined as the amount income earned over a certain period through exchange of products and services; an income that is subject to taxation…
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School Finance in New Jersey essay example
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