This brief provides a first look at the “Fairness Formula,” Chris Christie’s school tax reform plan. In this analysis, we show:

The “Fairness Formula” will greatly reward the most-affluent districts, which are already paying the lowest school tax rates as measured by percentage of income.
The “Fairness Formula” will force the least-affluent districts to slash their school budgets, severely increase local property taxes, or both.
The premise of the “Fairness Formula” – that the schools enrolling New Jersey’s at-risk students have “failed” during the period of substantial school reform – is contradicted by a large body of evidence.