2013 New Jersey Revised Statutes
Title 54 - TAXATION
Section 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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