New Jersey Statutes 40:60-25.31. Property acquired to be self-supporting and taxable
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Terms Used In New Jersey Statutes 40:60-25.31
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
To the end that affected taxing authorities may not suffer undue loss of taxes and assessments by reason of the acquisition and ownership of property therein by such a municipality, all property hereafter acquired by such a municipality for the purposes of this act, together with improvements thereon or hereafter made thereon shall be self-supporting and subject to taxation for State and local purposes, in the same manner and to the same extent as the real estate of individuals.
L.1946, c. 302, p. 1006, s. 5, eff. May 6, 1946.