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

This bill amends New Jersey's school funding formula to include the value of certain tax-exempt properties (like religious or government buildings) when calculating a school district's "equalized valuation" for state aid. It directly affects all New Jersey public school districts by changing how their taxable property base is measured for state funding calculations. The key change adds exempt property values to the valuation used to determine each district's share of state school aid. This is a technical adjustment to the existing funding formula, not a new program or policy. The bill was introduced in January 2024 and refers to existing state law (P.L.2007, c.260).