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New Jersey Statutes, Title: 54, TAXATION

    Chapter 4: Property subject to taxation.

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






Older versions of 54:4-23.24 (if available):



Court decisions that cite this statute: CLICK HERE.