Relates to payments in lieu of taxes; provides that the tax base growth factor or quantity change factor includes the change in assessed value for each property on the exempt side of the tax rolls under a payment in lieu of tax agreement; allows a local government or school district to elect to include the equivalent taxable value of property subject to a payment in lieu of taxes agreement in the calculation of its quantity change factor.
Relates to payments in lieu of taxes; provides that the tax base growth factor or quantity change factor includes the change in assessed value for each property on the exempt side of the tax rolls under a payment in lieu of tax agreement; allows a local government or school district to elect to include the equivalent taxable value of property subject to a payment in lieu of taxes agreement in the calculation of its quantity change factor.
Requires municipalities to share certain payments in lieu of property taxes with school districts; informs counties, school districts, and DCA of certain information related to property tax exemptions and abatements.
Requires any state aid owed to a school district from a prior year adjustment be paid as part of the first state aid payment of the following school year following the notification of such payments.
Requires any state aid owed to a school district from a prior year adjustment be paid as part of the first state aid payment of the following school year following the notification of such payments.
Makes technical corrections to a chapter of the laws of 2025 relating to authorizing the Thiells-Roseville Fire District to file an application for exemption from school taxes and real property taxes.