New Jersey S4454 mandates annual state aid payments to municipalities with significant state or county-owned property.

New Jersey S4454 requires the state to provide annual aid payments to municipalities with populations under 30,000 where state or county-owned property comprises at least 10% of the total acreage. The aid is calculated at $500 per acre of such property. The State Treasurer must distribute these payments by August 1 each year from the Property Tax Relief Fund, subject to legislative appropriation. The assessor of each eligible municipality must submit an annual statement to the Director of the Division of Taxation, who then calculates and certifies the aid amount by February 1.

New Jersey S4454 mandates annual state aid payments to municipalities with significant state or county-owned property.

New Jersey S4454 requires the state to provide annual aid payments to municipalities with populations under 30,000 where state or county-owned property comprises at least 10% of the total acreage. The aid is calculated at $500 per acre of such property. The State Treasurer must distribute these payments by August 1 each year from the Property Tax Relief Fund, subject to legislative appropriation. The assessor of each eligible municipality must submit an annual statement to the Director of the Division of Taxation, who then calculates and certifies the aid amount by February 1.