New Jersey § 58:1b-23
Full text of New Jersey New Jersey Statutes § 58:1b-23, with citation guidance and answers to common questions.
§ 58:1b-23.
a. All projects and other property of the authority is declared to be public property
devoted to an essential public and governmental function and purpose and shall be
exempt from all taxes and special assessments of the State or any political subdivision
thereof; provided, however, that when any part of the project site not occupied or
to be occupied by facilities of the project is leased by the authority to another
whose property is not exempt and the leasing of which does not make the real estate
taxable, the estate created by the lease and the appurtenances thereto shall be listed
as the property of the lessee thereof and be assessed and taxed as real estate. All bonds issued pursuant to this act are declared to be issued by a body corporate
and politic of the State and for an essential public and governmental purpose and
these bonds, and the interest thereon and the income therefrom, and all funds, revenues,
income and other moneys received or to be received by the authority and pledged or
available to pay or secure the payment of the bonds, or interest thereon, shall be
exempt from taxation except for transfer inheritance and estate taxes. b. Any project constructed, maintained or operated by the authority shall be exempt
from compliance with local zoning regulations, but the authority shall wherever practicable
adhere to the regulations.
Frequently Asked Questions About New Jersey § 58:1b-23
What does New Jersey Statutes § 58:1b-23 cover?
Section 58:1b-23 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 § 58:1b-23?
A common citation format is "New Jersey Statutes § 58:1b-23" (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 § 58:1b-23 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.