52:27D-118.34 - Distributions of aid
52:27D-118.34. Distributions of aid
The director shall on or before December 31, 1991 and annually thereafter make distributions of "Supplemental Municipal Property Tax Relief Act" aid, in amounts determined as follows:
a. (1) To municipalities having an equalized tax rate at least twice the Statewide aggregate equalized tax rate, an amount equal to $72.76 per capita.
(2) To municipalities having an equalized tax rate greater than the Statewide aggregate equalized tax rate and less than twice the Statewide aggregate equalized tax rate, an amount equal to $42.75 per capita.
(3) To municipalities having an equalized tax rate equal to or greater than 75% of the Statewide aggregate equalized tax rate but not greater than the Statewide aggregate equalized tax rate, an amount equal to $31.83 per capita.
(4) To municipalities having an equalized tax rate less than 75% of the Statewide aggregate equalized tax rate, an amount equal to $22.73 per capita.
b. In addition to the amount determined pursuant to subsection a. of this section, any municipality with a municipal per capita income less than 50% of the Statewide per capita income shall receive $45.48 per capita.
c. The most recent federal decennial census shall be used to determine municipal population for the distribution of per capita aid pursuant to this section.
L.1991,c.63,s.3.