N.J.S.A. 54:4-2.3

Exempt property leased to person whose property is not exempt

54:4-2.3. Exempt property leased to person whose property is not exempt When real estate exempt from taxation is leased to another whose property is not exempt, and the leasing of which does not make the real estate taxable, the leasehold estate and the appurtenances shall be listed as the property of the lessee thereof, or his assignee, and assessed as real estate. L.1949, c. 177, p. 566, s. 1.

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This is the verbatim text of N.J.S.A. 54:4-2.3, 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.

N.J.S.A. 54:4-2.3 — Exempt property leased to person whose property is not exempt | Kyzer