N.J.S.A. 54:1-69 — Legislative findings

54:1-69. Legislative findings The Legislature finds: a. that since enactment of the "Pinelands Protection Act," P.L.1979, c. 111 (C. 13:18A-1 et seq.) there is an apparent causal relationship to a decline in the value of vacant land in the Pinelands area and a resultant shift in property taxes to other classes of property; b. that such a shift in property taxes is an inequitable and undesirable circumstance; c. that it is the responsibility of the State Government to protect the property owners in municipalities affected by the "Pinelands Protection Act" from a shift in property tax burden from vacant land to other classes of property owing directly to the enactment of that act; and d. that this protection is best provided by direct payments to municipalities experiencing a shift of property tax burden in amounts representing the property tax otherwise payable on vacant land but not being assessed by reason of the decline in the value of vacant land. L.1983, c. 551, s. 2, eff. Jan. 17, 1984; per s.17 as amended by 1987, c.320, s.2, section expired December 31, 1989.

This is the verbatim text of N.J.S.A. 54:1-69, 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.