New Jersey § 40a:21-16
Full text of New Jersey New Jersey Statutes § 40a:21-16, with citation guidance and answers to common questions.
§ 40a:21-16.
No exemption or abatement shall be granted pursuant to this act 1 except upon written application therefor filed with and approved by the assessor
of the taxing district wherein the improvement, conversion alteration or construction
is made. Every application shall be on a form prescribed by the Director of the Division
of Taxation in the Department of the Treasury, and provided for the use of claimants
by the governing body of the municipality constituting the taxing district, and shall
be filed with the assessor within 30 days, including Saturdays and Sundays, following
the completion of the improvement, conversion alteration or construction. Every application for exemption, or exemption and abatement, within a municipality
adopting the provisions of this act which is filed within the time specified, shall
be approved and allowed by the assessor to the degree that the application is consistent
with the provisions of the adopting ordinance or the tax agreement, provided that
the improvement, conversion alteration or construction for which the application is
made qualifies as an improvement, a conversion alteration or construction pursuant
to the provisions of this act and the tax agreement, if any. The granting of an exemption, or exemption and abatement, shall relate back to, and take effect as of, the date of completion of the project,
or portion or stage of the project for which the exemption, or exemption and abatement,
is granted, and shall continue for five annual periods from that date. The grant of the exemption, or exemption and abatement, or tax agreement shall be recorded and made a permanent part of the official tax
records of the taxing district, which record shall contain a notice of the termination
date thereof. 1
L.1991, c. 441 (N.J.S.A. § 40A:21-1 et seq.).
Frequently Asked Questions About New Jersey § 40a:21-16
What does New Jersey Statutes § 40a:21-16 cover?
Section 40a:21-16 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 40a:21-16?
A common citation format is "New Jersey Statutes § 40a:21-16" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 40a:21-16 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.