Takeaways by Bloomberg AI
- Montclair Public Schools is cutting staff and considering a property tax hike to address a nearly $20 million surprise budget hole.
- The district terminated or eliminated the position of 103 employees, with the cuts being driven by a mismatch in expenses and revenue, including escalating transportation costs and unbudgeted healthcare expenses.
- The district is holding a special election in December to ask residents to approve tax increases, including a one-time increase and a permanent tax hike, to cover deficits and potentially reinstate some positions.
Bloomberg Markets
By Erin Hudson
October 24, 2025