N.J.S.A. 54:4-23.24 — Residential property rezoned into commercial or industrial zone; valuation and assessment

54:4-23.24. Residential property rezoned into commercial or industrial zone; valuation and assessment All property which has been valued and assessed as residential property within a zone designated as residential and which has been so assessed for a period of 3 years or longer, and which upon the revision of a zoning ordinance becomes situate in a commercial or industrial zone, shall continue to be valued and assessed as residential property so long as the owner thereof at the time of the change in the zoning ordinance shall continue to occupy such property as his principal place of residence. L.1977, c. 434, s. 1.

This is the verbatim text of N.J.S.A. 54:4-23.24, 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.