New Jersey § 54:4-8
Full text of New Jersey New Jersey Statutes § 54:4-8, with citation guidance and answers to common questions.
§ 54:4-8.
The Legislature finds and declares: a. One of the most effective ways to reduce property taxes is through the regionalization,
consolidation or sharing of services by local units and school districts. b. Due to institutional and financial limitations on these governmental units, regionalized,
consolidated and shared alternatives have not been widely adopted, resulting in duplication
of services and excess costs levied on property taxpayers. c. A program of providing State aid to governmental units that successfully implement
strategies to regionalize, consolidate and share services will be an innovative and
important means of providing a financial incentive to overcome the institutional limitations
of local units and school districts. d. To overcome these institutional limitations and to ensure property tax relief,
the State should provide State aid in the form of a property tax credit of a sum of
money related to property taxes as authorized by Article VIII, Section I, paragraph 5 of the Constitution directly to the taxpayer, while the governmental unit realizes the budgetary savings
from shared, regionalized or consolidated services and passes these additional savings
through to taxpayers through a reduction in property tax obligations. e. Further, combining State-funded property tax relief with fiscal assistance for
the planning and start-up costs associated with new shared, regionalized or consolidated
services will provide additional incentives for government units to take advantage
of the potential savings.
Frequently Asked Questions About New Jersey § 54:4-8
What does New Jersey Statutes § 54:4-8 cover?
Section 54:4-8 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 § 54:4-8?
A common citation format is "New Jersey Statutes § 54:4-8" (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 § 54:4-8 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.