N.J.S.A. 13:17-40 — Division of land into classes

13:17-40. Division of land into classes All land within the district shall be divided by the commission into 3 classes as follows: Class 1--Land owned by the State of New Jersey, any of its political subdivisions, or any other public agency or instrumentality which enjoys the privilege of general property tax exemption under the laws of the State, and which land is designated by the owner as presently or ultimately intended for a public use. Class 2--Land owned by the State of New Jersey, any of its political subdivisions, or any other public agency or instrumentality which enjoys the privilege of general property tax exemption under the laws of the State, and which land is designated by the owner as ultimately disposable to private ownership, or usable by private parties. Class 3--All other land. L.1968, c. 404, s. 39.

This is the verbatim text of N.J.S.A. 13:17-40, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.