Chapter 70 is state aid directed specifically to the schools. It initially enters the town accounts and is then fully redirected to the schools. The town has estimated that this aid will have a 20% reduction from FY20. The state has not yet come up with their budget yet, so this is just a projection. Projections vary by town.
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Chapter 70 in essence is the funding that comes from the state coffers for public education. Towns and municipalities receive different amounts based on concentration of poverty and complex learner needs. They are factored into a document called the cherry sheet (named for the color of the paper it was printed on back in the day) that lists all of state aid that comes to the town or municipality. Totaled, the cherry sheet is part of the calculation of the tax rate for the town. For the official definition, please see this: https://www.massbudget.org/report_window.php...
For the calculation rate: https://www.massbudget.org/report_window.php?loc=Facts_10_22_10.html&fbclid=IwAR23pxX8-W2iBnbeAIqqUvjVFclS9Xf2dDA2fAJsxzPP0054eFjVLHWdygc