In NJ, property taxes directly fund a portion of the local school budgets in NJ, with the rest made up by the state and federal monies available. Some districts get over 40% funding to “compensate” them for a tax base otherwise incapable of funding a “proper” education (these are called “Abbott Districts, after a court ruling some years ago). Other districts approach 100% local property taxes, like my district – about 95% self-funded.
In my school district in NJ, starting salary for first-year teachers is just under $50K/yr, with teachers with the district for 20 years approaching $90K/yr, advanced degrees add a few K more.
As for the paltry pension teachers earn, after 10 yrs on the job, their pension is calculated by dividing their years of service (say, 35) by 55, then multiplying that times their last three year wage average. (This is a state-wide calculation, but each district sets their own payscale.) For example, a teacher with 35 yrs experience and an average $90K/yr salary their last three years of employment would enjoy a pension of (35/55) * 90000 = $57,272/yr with fully paid-for medical coverage for life as well in most cases. While not a kings ransom, it is a guaranteed benefit that far exceeds what many in the private sector are offered by their employers.