Gov. Murphy touts school Fair Formula Funding plan; says it will alleviate property tax burden

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Gov. Phil Murphy visited a Somerset County high school on Thursday to tout his plans for additional school funding statewide. It is a plan the governor says will help alleviate the property tax burden.

Murphy visited Bound Brook High School to discuss the Fair Formula Funding plan. He says that it is a more balanced approach to school aid. Using Bound Brook as an example, the governor said that the school district was financially shortchanged during the Christie administration.

The New Jersey Department of Education also released its projected aid figures for the upcoming school year.

RELATED: Gov. Murphy unveils $41 billion state budget in 3rd annual address 
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“In these numbers, Bound Brook will see another 18% increase in formula aid, some $2.8 million in new aid, K-12,” Murphy said.

Bound Brook will also see a $350,000 increase in aid to the district’s pre-K program. Preschool aid will increase by $83 million statewide.

The governor says that this aid will help to alleviate property taxes to homeowners, who on average, are paying less in Bound Brook thanks to an overall state aide increase by 124% since he took office.

WATCH: Gov. Murphy discusses his new $41 billion state budget with News 12 NJ

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