New Jersey § 40a:21-21
Full text of New Jersey New Jersey Statutes § 40a:21-21, with citation guidance and answers to common questions.
§ 40a:21-21.
The governing body of a municipality adopting an ordinance pursuant to this act shall
report, on or before October 1 of each year, to the Director of the Division of Local
Government Services in the Department of Community Affairs and to the Director of
the Division of Taxation in the Department of the Treasury the total amount of real
property taxes exempted and the total amount abated within the municipality in the
current tax year for each of the following: a. improvements of dwellings; b. construction of dwellings; c. improvements and conversions of multiple dwellings; d. improvements of commercial or industrial structures; e. construction of multiple dwellings under tax agreements; and f. construction of commercial or industrial structures under tax agreements. In the case of e. and f. above, the report shall state instead the total amount of
payments made in lieu of taxes according to each formula utilized by the municipality,
and the difference between that total amount and the total amount of real property
taxes which would have been paid on the project had the tax agreement not been in
effect, for the current tax year. The Director of the Division of Taxation shall include a summary of the information
provided in the annual reports in the annual report of the division.
Frequently Asked Questions About New Jersey § 40a:21-21
What does New Jersey Statutes § 40a:21-21 cover?
Section 40a:21-21 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:21-21?
A common citation format is "New Jersey Statutes § 40a:21-21" (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:21-21 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.