There is a newer version of the New Jersey Revised Statutes
2009 New Jersey Code
TITLE 32 - INTERSTATE AND PORT AUTHORITIES AND COMMISSIONS
Section 32:1
32:1-35.5 - Exemption from taxes and assessments; payments in lieu thereof
32:1-35.5. Exemption from taxes and assessments; payments in lieu thereofThe Port Authority shall be required to pay no taxes or assessments upon any of the property acquired or used by it for air terminal purposes; but this shall not be construed to prevent the Port Authority and municipalities from entering into agreements for the payment of fair and reasonable sums by the Port Authority annually in accordance with legislation heretofore adopted by the two States, to the end that such municipalities may not suffer undue loss of taxes and assessments by reason of the acquisition and ownership of property by the Port Authority for air terminal purposes.
L.1947, c. 43, p. 120, s. 5.
Disclaimer: These codes may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
