Recent analyses of the fiscal impact of New Jersey's Public School Education Act of 1975 have demonstrated that the manner in which education revenues are raised and distributed continues to favor wealthier school districts. While many people believe that most state aid to education funds were allocated to major cities, including Newark, the largest school district in the state, in reality the reverse occurred. In many respects Newark's position has worsened since the so-called reforms were enacted. Statistical tables showing relative costs per pupil and tax rates for Newark, other Essex County districts, and New Jersey as a whole form the bulk of this report. (Author/PGD)