[Adopted 2-12-2009 by Ord. No. 2-2009]
The following calculation methodology for establishing the amount
of reimbursement to be paid pursuant to the provisions of the Kelly
Law[1] is hereby adopted:
A.
The total
cost of solid waste collection for the previous year divided by the
total assessed value of residential property for the previous year
equals the cost of solid waste collection per $1 of assessed valuation
of residential property for the previous year.
B.
The quotient
of the above equation multiplied by the annual assessment of multifamily
dwelling for the previous year equals the amount of reimbursement
for the current year.
[1]
Editors' Note: See N.J.S.A. 40:66-1 et seq.
