New Jersey § 54:4-3
Full text of New Jersey New Jersey Statutes § 54:4-3, with citation guidance and answers to common questions.
§ 54:4-3.
No exemption shall be granted pursuant to P.L. 1995, c. 413 ( C. 54:4-3.150 et seq. ) except upon written application filed with the assessor of the taxing district wherein
the environmental opportunity zone is located and is approved by the governing body
by resolution or ordinance, as required by the enabling ordinance. 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. Every application for an exemption may be approved and allowed by the governing
body to the degree that the application is consistent with the provisions of the enabling
ordinance. The exemption shall not be granted by the governing body until the owner of the
property enters into a memorandum of agreement or administrative consent order with
the Department of Environmental Protection for the remediation. An exemption that is granted shall take effect upon the approval by the governing
body and it 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
of the exemption. The owner of the property shall deliver a copy of the approved exemption application
to the Division of Local Government Services in the Department of Community Affairs.
Frequently Asked Questions About New Jersey § 54:4-3
What does New Jersey Statutes § 54:4-3 cover?
Section 54:4-3 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 § 54:4-3?
A common citation format is "New Jersey Statutes § 54:4-3" (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 § 54:4-3 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.