Requires municipalities to share tax payments with school districts and informs counties and school districts of tax exemption applications.

New Jersey A4953 mandates that municipalities share certain payments received in lieu of property taxes with school districts. It also requires urban renewal entities to provide counties and school districts with copies of applications for long term tax exemptions. Mayors must provide counties and school districts with copies of their recommendations regarding these applications. Municipal governing bodies must allow counties and school districts a 10-day period to review these recommendations.

Requires municipalities to share tax payments with school districts and informs counties and school districts of tax exemption applications.

New Jersey A4953 mandates that municipalities share certain payments received in lieu of property taxes with school districts. It also requires urban renewal entities to provide counties and school districts with copies of applications for long term tax exemptions. Mayors must provide counties and school districts with copies of their recommendations regarding these applications. Municipal governing bodies must allow counties and school districts a 10-day period to review these recommendations.