New Jersey A521 modifies conditions for regional school districts to use property assessments for cost apportionment to municipalities.

New Jersey A521 amends the conditions under which regional school districts can use property assessments to apportion costs to participating municipalities. The bill stipulates that such apportionment is permissible if each municipality has conducted a revaluation within five years of one another, if the assessment to sales ratio for each municipality is above 90 percent, or if the ratio is below 90 percent but within five percent of the other municipalities' ratios. This ensures the apportionment is fair and accurate.

New Jersey A521 modifies conditions for regional school districts to use property assessments for cost apportionment to municipalities.

New Jersey A521 amends the conditions under which regional school districts can use property assessments to apportion costs to participating municipalities. The bill stipulates that such apportionment is permissible if each municipality has conducted a revaluation within five years of one another, if the assessment to sales ratio for each municipality is above 90 percent, or if the ratio is below 90 percent but within five percent of the other municipalities' ratios. This ensures the apportionment is fair and accurate.