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New Jersey Statutes, Title: 54, TAXATION

    Chapter 4: Property subject to taxation.

      Section: 54:4-1.12: Storage tank deemed real property

           3. For the purposes of chapter 4 of Title 54 of the Revised Statutes and notwithstanding the provisions of R.S.54:4-1, a storage tank having a capacity of more than 30,000 gallons is deemed to be real property. The fact that products are mixed, blended, heated or subjected to a similar non-production process within a storage tank shall not in itself render that tank personal property.

L.1986,c.117,s.3; amended 1992,c.24,s.5.



This section added to the Rutgers Database: 2012-09-26 13:37:56.






Older versions of 54:4-1.12 (if available):



Court decisions that cite this statute: CLICK HERE.