State law (N.J.S.A. 40:54-8) provides that each municipal public or free library shall be provided a minimum appropriation equal to one third of a mil of the assessed value for the current fiscal year.

Example:

Prior year Equalized Valuation: $921,534,000

Multiplied by .000333333 (1/3 mill)

$307,178 is the minimum level of support

Source:  Library Finance and State Aid, Presented by Patricia Tumulty, Executive Director of the New Jersey Library Trustee Association and the New Jersey Library Association, and Victoria Rosch, Deputy Director, New Jersey State Library, Presented September 29, 2007