Includes value of certain tax-exempt properties in calculating State school aid for SDA districts.
This bill amends the calculation of State school aid for SDA districts by including the value of certain tax-exempt properties in the valuation used to determine the district's capacity to raise revenue locally. Previously, the value of properties exempt from taxation under the Long Term Tax Exemption Law was omitted from this calculation, potentially leading to inequitable aid distribution. The change takes effect immediately and applies to the first full school year following enactment.
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