New Jersey § 18a:7f-52
Full text of New Jersey New Jersey Statutes § 18a:7f-52, with citation guidance and answers to common questions.
§ 18a:7f-52.
Each school district and county vocational school district shall receive equalization
aid predicated on a local share determined by district property wealth and district
income. a. Each district's local share shall be calculated as follows: LSHARE = (EQVAL x PVR x 50%) + (INC x INR x 50%) where EQVAL is the district's prebudget year equalized valuation; PVR is the Statewide property value rate determined pursuant to subsection c. of this
section; INC is the district's income; and INR is the Statewide income rate determined pursuant to subsection c. of this section. b. The local share for each county vocational school district shall be calculated
as follows: LSHARE = (COLSHARE/COAB) x AB where COLSHARE is the sum of the local shares for all school districts in the county calculated
pursuant to subsection a. of this section; COAB is the sum of the adequacy budgets for all school districts in the county calculated
pursuant to section 9 of this act; 1 and AB is the county vocational school district's adequacy budget calculated pursuant
to section 9 of this act. c. For the 2008-2009 school year, the property value rate shall be set at 0.0092690802
and the income value rate shall be set at 0.04546684. For subsequent school years the values for the property value rate and the income
value rate shall be annually determined by the commissioner as follows: the property value rate shall be determined such that equalization aid equals the
Statewide available equalization aid for all districts determined according to this
act had each school district's local share equaled the product of the property value
rate and the district's equalized valuation and each county vocational school district's
local share equaled the product of the county vocational school district's adequacy
budget and the average local share, expressed as a percent, of the school districts
located in the county; and the income rate shall be determined such that equalization aid equals the Statewide
available equalization aid for all districts determined according to this act had
each school district's local share equaled the product of the income rate and the
district's income and each county vocational school district's local share equaled
the product of the county vocational school district's adequacy budget and the average
local share, expressed as a percent, of the school districts located in the county. In the event that these rates, when used in accordance with the provisions of this
section and assuming that each district's general fund levy is equal to its local
share, do not result in equalization aid for all districts equal to the Statewide
available equalization aid, the commissioner shall adjust these rates appropriately,
giving equal weight to each. 1
N.J.S.A. § 18A:7F-51.
Frequently Asked Questions About New Jersey § 18a:7f-52
What does New Jersey Statutes § 18a:7f-52 cover?
Section 18a:7f-52 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 18a:7f-52?
A common citation format is "New Jersey Statutes § 18a:7f-52" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 18a:7f-52 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.