Higher-than-expected property tax and other revenue should bring nearly $100 million more than predicted to Oregon schools.
Education officials say Wednesday’s state revenue forecast offers $57 million more for next school year, and would be distributed through Oregon’s school funding formula.
That’s more than $4.5 million for next year for Portland Public Schools.
“This is good news, but we also have to be cautious,” said school spokeswoman Christine Miles. “Because, again, this is forecasted revenue, and all understand that the Oregon funding for education statewide is like a roller coaster.”
Financial disagreements have led Portland to the brink of its first-ever teachers’ strike. Without mentioning contract talks, Superintendent Carole Smith said the additional revenue “allows us to increase our investment in teachers and staff in our schools.”
State economists say there’s also $38 million more for the current academic year. Some of that money has shown up already – in districts where local property tax collections are rising.