New Jersey § 40:60-25.7 Definitions

New Jersey Statutes

§ 40:60-25.7 — Definitions

New Jersey § 40:60-25.7

Title 40MUNICIPALITIES AND COUNTIES

This text of New Jersey § 40:60-25.7 (Definitions) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 40:60-25.7 (2026).

Text

The following terms, wherever used or referred to in this act, shall have the following respective meanings, unless a different meaning clearly appears from the context:

(a)"Governing body" shall mean that governmental board or body of a municipality having control or jurisdiction over its financial affairs;

(b)"Property exempt from local taxation" or "tax exempt property" shall mean real or personal, or real and personal, property which is exempt from local taxation because the owner of such property enjoys the privilege of exemption from local taxation arising out of a contract with the State which the Legislature cannot abrogate or repeal without the consent of the owner;

(c)"Tax exemption" shall mean exemption from local taxation under such a contract with the State;

(d)"Owner" sha

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The following terms, wherever used or referred to in this act, shall have the following respective meanings, unless a different meaning clearly appears from the context: (a) "Governing body" shall mean that governmental board or body of a municipality having control or jurisdiction over its financial affairs; (b) "Property exempt from local taxation" or "tax exempt property" shall mean real or personal, or real and personal, property which is exempt from local taxation because the owner of such property enjoys the privilege of exemption from local taxation arising out of a contract with the State which the Legislature cannot abrogate or repeal without the consent of the owner; (c) "Tax exemption" shall mean exemption from local taxation under such a contract with the State; (d) "Owner" shall mean any person, association, copartnership or corporation owning tax exempt property in fee; (e) "Local taxation" shall mean municipal or other local taxation for the direct support of the government of the municipality or for other local purposes. L.1944, c. 206, p. 729, s. 1, eff. April 21, 1944.