School budget
A school district's yearly spending plan. The board of education adopts it and sends it to the state Education Commissioner for approval, and the school tax amount it sets is collected through local property tax bills.
New Jersey example
Type II districts hold their annual school election on the third Tuesday in April or, if they moved it, in November. Under P.L.2023, c.289, signed January 16, 2024, neither group votes on the budget's general fund tax levy. On the budget, voters decide only separate proposals to raise extra money.
Official source
P.L. 2023, c.289 (S4209 2R): An Act concerning school elections
This is a plain-English summary. Rules and dollar amounts change, so check the official source or a professional before you file or sign anything.