Includes value of certain properties exempt from taxation in valuation used to calculate State school aid.
This bill amends the calculation of State school aid in New Jersey by including the value of certain properties exempt from taxation in the valuation used to determine a community's wealth. Currently, such exempt properties are omitted from the calculation, potentially leading to unequal aid distribution. The bill ensures that the full valuation of a community's property is considered, aiming for a more equitable distribution of State school aid.
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