Bill Text: NJ S4513 | 2024-2025 | Regular Session | Introduced
Bill Title: Exempts from property taxation real property privately owned and leased to certain public entities for public purposes.
Sponsorship: Partisan Bill (Democrat 1)
Status: (Introduced - Dead) 2025-05-29 - Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee [S4513 Detail]
Download: New_Jersey-2024-S4513-Introduced.html
Sponsored by:
Senator LINDA R. GREENSTEIN
District 14 (Mercer and Middlesex)
SYNOPSIS
Exempts from property taxation real property privately owned and leased to certain public entities for public purposes.
CURRENT VERSION OF TEXT
As introduced.
An Act exempting from property taxation real property that is privately owned and leased to certain public entities for public purposes, and amending R.S.54:4-3.3.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. R.S.54:4-3.3 is amended to read as follows:
54:4-3.3. a. Except as otherwise provided by article 1 of this chapter [(s.54:4-1 et seq.)] (R.S.54:4-1 et seq.) and P.L.2009, c.6 (C.54:4-3.6f et seq.), the property of the State of New Jersey; and the property of the respective counties and municipalities, and their agencies and authorities, school districts, and other taxing districts used for public purposes, which public purposes include the use for the operation of government functions and the provision of government services, stadiums and arenas, or for the preservation or exhibit of historical data, records or property; school district property which is leased to a nonprofit organization which is exempt from taxation under R.S.54:4-3.6, for use by that organization in its exempt functions; school district property which is leased to another board of education or governmental agency; and property acquired by any municipality through tax title foreclosure or by deed in lieu of foreclosure, if not used for private purpose, shall be exempt from taxation under this chapter, but this exemption shall not include real property bought in for debts or on foreclosure of mortgages given to secure loans out of public funds or out of money in court, which property shall be taxed unless devoted to public use.
The lands of counties, municipalities, and other municipal and public agencies of this State used for the purpose and for the protection of a public water supply shall be subject to taxation by the respective taxing districts where situated, at the taxable value thereof, without regard to any buildings or other improvements thereon, in the same manner and to the same extent as the lands of private persons, but all other property so used shall be exempt from taxation. Property, the title to which is in the Morris Canal and Banking Company, in trust for the State, shall, so long as the title is so vested, be deemed to be the property of the State within the meaning of any tax law.
b. All buildings and lands that are privately owned, but leased to the State of New Jersey, its counties, or municipalities, and their agencies and authorities, school districts, and other taxing districts shall be exempt from taxation, provided such buildings and lands are used for public purposes, as those purposes are set forth pursuant to subsection a. of this section.
(cf: P.L.2016, c.65, s.2)
2. This act shall take effect immediately.
STATEMENT
This bill exempts from property taxation all buildings and lands that are privately owned and leased to the State of New Jersey, its counties, or municipalities, and their agencies and authorities, school districts, and other taxing districts, provided that such buildings and lands are used for a public purpose for the duration of the lease agreement.
For purposes of the bill, a "public purpose" would include use of land and buildings for: the operation of government functions and the provision of government services; stadiums and arenas; the preservation or exhibit of historical data, records or property; school district property which is leased to an exempt nonprofit organization, another board of education, or governmental agency; and property acquired by a municipality through tax title foreclosure or by deed in lieu of foreclosure which is not otherwise used for a private purpose.
