Includes value of certain properties exempt from taxation in valuation used to calculate State school aid in SDA districts.

This bill requires that the value of properties exempt from property tax under New Jersey's Long Term Tax Exemption Law be included in the calculation of a community's equalized property valuation for state school aid in SDA districts (former Abbott districts). Currently, such properties are excluded from this valuation, which can result in higher state aid for districts with these properties. The bill amends the law to include the value of these exempt properties in the community wealth calculation used to determine state school aid. The change takes effect immediately and applies to the first full school year after enactment.