New Jersey Administrative Code
Title 6A - EDUCATION
Chapter 23A - FISCAL ACCOUNTABILITY, EFFICIENCY AND BUDGETING PROCEDURES
Subchapter 11 - TAX LEVY GROWTH LIMITATION
Section 6A:23A-11.1 - Adjusted tax levy growth limitation

Universal Citation: NJ Admin Code 6A:23A-11.1

Current through Register Vol. 56, No. 6, March 18, 2024

(a) A school district shall not adopt a budget with an increase that exceeds the adjusted tax levy growth limitation, calculated pursuant to N.J.S.A. 18A:7F-38. The adjusted tax levy growth limitation shall be calculated as the sum of the:

1. Prebudget year adjusted tax levy, plus any adjustment for increases in enrollment calculated pursuant to N.J.S.A. 18A:7F-38.b, multiplied by two percent; and

2. Adjustments for an increase in health care costs calculated pursuant to N.J.S.A. 18A:7F-38.d(1) and N.J.A.C. 6A:23A-11.3, and an increase in normal and accrued liability pension contributions to Public Employees' Retirement System (PERS) (pension deferral) calculated pursuant to N.J.S.A. 18A:7F-38.d(2).

(b) The school district shall prove by clear and convincing evidence the anticipated dollar amount of the expenditure for each tax levy adjustment sought is reasonable.

(c) The adjusted tax levy shall be increased or decreased, accordingly, when the responsibility and associated cost of a school district activity is transferred to another school district or governmental entity.

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