New Jersey § 52:27d-178

§ 52:27d-178.

For the purposes of this act, unless the context clearly indicates otherwise: “ Base year ” means the second year preceding the annual apportionment of State aid pursuant to

this act. “ Director ” means the Director of the Division of Local Government Services in the Department

of Community Affairs. “ Net valuation taxable ” means the total value of property on which the general tax rate is computed as expressed

in column 6 of the Table of Aggregates pursuant to R.S.54:4-52 for the base year. “Equalization ratio” means the ratio of assessed value to true value of real property

as published in the Certification of Table of Equalized Valuations by the Director

of the Division of Taxation for the base year pursuant to P.L.1954, c. 86, s. 1 ( C.54:1-35.1 ). “ Equalized valuation ” means net valuation taxable divided by the equalization ratio. “Municipal equalized valuation per capita” means a municipality's equalized valuation

divided by the population of the municipality. “ State equalized valuation per capita ” means the sum of the equalized valuations of all the municipalities of the State

divided by the population of the State. “ General tax rate ” means the tax rate for local taxing purposes as defined in R.S.54:4-52 and as expressed in column 7 of the Table of Aggregates for the base year. “ Equalized tax rate ” means the general tax rate multiplied by the equalization ratio. “ State equalized tax rate ” means the sum of the total levies on which the tax rates for all the municipalities

of the State are computed divided by the sum of the equalized valuations of all the

municipalities of the State for the base year. “ Population ” means the official population count of the State of New Jersey for the base year

as reported by the New Jersey Department of Labor, Office of Demographic and Economic

Analysis. “ Ratio H ” means the proportion that residential and apartment assessed valuation bears to

the total assessed valuation of the real property of a municipality, as calculated

by the Division of Taxation in the Treasury Department. “ Publicly financed housing ” means any dwelling unit constructed and operated under any of the following Federal

and State housing programs: (a) Any dwelling unit constructed under grants or mortgage financing of the New Jersey

Housing Finance Agency. (b) Any dwelling unit constructed under the following sections of the National Housing

Act ( Public Law 73-479 ) as amended and supplemented: section 221(d)(3) as added to by the Housing Act of

1961 ( P.L. 87-70 ) and as subsequently amended; 1 section 236 as added to by the Housing and Urban Development Act of 1968 ( P.L. 90-448 ) and as subsequently amended; 2 section 202, Housing Act of 1959 ( P.L. 86-372 ) and as subsequently amended; 3 section 221-H, as added by the Demonstration Cities and Metropolitan Development

Act of 1966 ( P.L. 89-754 ) and as subsequently amended. 4 (c) Any dwelling unit constructed or operated under the United States Housing Act

of 1937 ( Public Law 75-412 ) and as subsequently added to and amended. 5 “ ADC children ” means the number of children between the ages of five and 17 years in the municipality

enrolled in the Aid to Dependent Children Program, as made available by the Division

of Public Welfare in the Department of Human Services for the base year in the publication

“State of New Jersey, ADC Data Needed to Implement Public Law 89-10 , the Elementary and Secondary Education Act of 1965,” provided, however that the

director shall use the best available data comparable to the data provided for the

allocation of funds in 1975 pursuant to P.L.1975, c. 68. “ Qualifying municipality ” means a municipality in which: The number of ADC children exceeds 250, except when the municipality's population

exceeds 20,000 with a density exceeding 7,000 per square mile and the municipality's

equalized valuation per capita is less than the State equalized valuation per capita

by $4,500.00 or more, and There exists , in the case of a municipality with a population exceeding 15,000, publicly financed housing, and The municipality's equalized tax rate exceeds the State equalized tax rate, or the

municipality's equalized valuation per capita is less than the State equalized valuation

per capita by $2,000.00 or more and its population exceeds 25,000, and The municipality's equalized valuation per capita is less than the State equalized

valuation per capita or the municipality's equalized tax rate exceeds the State equalized

tax rate by $0.75 or more. “ Distribution factor ” means for each qualifying municipality the following: DF = 0.6 W x 0.4 T sigmaW sigmaT where, DF equals the Distribution Factor W equals ADC children in the municipality T equals P (V s -V m ) (R m -R s ) Z For the purposes of computing the distribution factor, when T has a negative value, it shall be assigned a value of zero. P equals Population V s equals State Equalized Valuation Per Capita V m equals Municipal Equalized Valuation Per Capita R m equals Municipal Equalized Tax Rate R s equals State Equalized Tax Rate Z equals Ratio H 1

12 U.S.C.A. § 1715l(d)(3). 2

12 U.S.C.A. § 1715z-1. 3

12 U.S.C.A. § 1701q. 4

12 U.S.C.A. § 1715(l)(h). 5

42 U.S.C.A. § 1437 et seq.