State Codes and Statutes

Statutes > New-jersey > Title-32 > Section-32-1 > 32-1-35-82

32:1-35.82.  Taxes and assessments;  approval of municipality of purchaser or lessee
    The port authority shall be required to pay no taxes or assessments upon any  of the property acquired and used by it for any of the purposes of this act or  upon any deed, mortgage or other instrument affecting such property or upon the  recording of any such instrument.  However, to the end that no taxing  jurisdiction shall suffer undue loss of taxes and assessments by reason of the  acquisition and ownership of property by the port authority for any of the  purposes of this act, the port authority is hereby authorized and empowered, in  its discretion, to enter into a voluntary agreement or agreements with any  city, town, township or village whereby the port authority will undertake to  pay in lieu of taxes a fair and reasonable sum, if any, or sums annually in  connection with any real property acquired and owned by the port authority for  any of the purposes of this act and to provide for the payment as a rental or  additional rental charge by any person occupying any portion of any industrial  development project or facility either as lessee, vendee or otherwise of such reasonable sum, if any, or sums as hereinafter provided.  Such sums in connection with any real property acquired and owned by the port authority for  any of the purposes of this act shall not be more than the sum last paid as  taxes upon such real property prior to the time of its acquisition by the port  authority;  provided, however, that in connection with any portion of any  industrial development project or facility, which is owned by the port  authority or another governmental entity and improved pursuant to this act with  buildings, structures or improvements greater in value than the buildings,  structures or improvements in existence at the time of its acquisition,  development or improvement by the port authority, any person occupying such  portion of such industrial development project or facility either as lessee,  vendee or otherwise shall, as long as title thereto shall remain in the port  authority or in another governmental entity, pay as a rental or additional  rental charge an amount in lieu of taxes, if any, not in excess of the taxes on  such improvements and on personal property, including water and sewer service charges or assessment, which such person would have been required to pay had it  been the owner of such property during the period for which such payment is  made;  provided further, however, that neither the port authority nor any of  its projects, facilities, properties, moneys or bonds and notes shall be obligated, liable or subject to lien of any kind whatsoever for the enforcement, collection or payment thereof.  Each such city, town, township or village is hereby authorized and empowered to enter into such agreement or agreements with the port authority, which agreement or agreements may also include provisions with respect to the joint review of categories of tenants proposed as occupants for industrial development projects or facilities with the cities, towns, townships or villages in which they are proposed to be located, and to accept the payment or payments which the port authority is hereby authorized and empowered to make or which are paid by a person occupying  any such portion of such industrial development project or facility as rental  or as additional rental in lieu of taxes, and the sums so received by such  city, town, township or village shall be devoted to purposes to which taxes may  be applied in all affected taxing jurisdictions unless and until otherwise  directed by law of the state in which such city, town, township or village is  located.  At least 10 days prior to the authorization by the port authority of  any agreement provided for in this section 11, the port authority shall notify  the chief executive officer of each city in the port district within which an  industrial development project or facility has been included in the master plan  provided for in paragraph b. of section 3 hereof of the proposed authorization  of such agreement, shall seek their comments and shall include with such authorization any comments received from such city.  The port authority shall  not sell or lease substantially all of an industrial development project or  facility to a proposed purchaser or lessee without the prior approval by the  municipality wherein the project or facility is located of such purchaser or  lessee.

     L.1978, c. 110, s. 11, eff. Aug. 24, 1978.
 

State Codes and Statutes

Statutes > New-jersey > Title-32 > Section-32-1 > 32-1-35-82

32:1-35.82.  Taxes and assessments;  approval of municipality of purchaser or lessee
    The port authority shall be required to pay no taxes or assessments upon any  of the property acquired and used by it for any of the purposes of this act or  upon any deed, mortgage or other instrument affecting such property or upon the  recording of any such instrument.  However, to the end that no taxing  jurisdiction shall suffer undue loss of taxes and assessments by reason of the  acquisition and ownership of property by the port authority for any of the  purposes of this act, the port authority is hereby authorized and empowered, in  its discretion, to enter into a voluntary agreement or agreements with any  city, town, township or village whereby the port authority will undertake to  pay in lieu of taxes a fair and reasonable sum, if any, or sums annually in  connection with any real property acquired and owned by the port authority for  any of the purposes of this act and to provide for the payment as a rental or  additional rental charge by any person occupying any portion of any industrial  development project or facility either as lessee, vendee or otherwise of such reasonable sum, if any, or sums as hereinafter provided.  Such sums in connection with any real property acquired and owned by the port authority for  any of the purposes of this act shall not be more than the sum last paid as  taxes upon such real property prior to the time of its acquisition by the port  authority;  provided, however, that in connection with any portion of any  industrial development project or facility, which is owned by the port  authority or another governmental entity and improved pursuant to this act with  buildings, structures or improvements greater in value than the buildings,  structures or improvements in existence at the time of its acquisition,  development or improvement by the port authority, any person occupying such  portion of such industrial development project or facility either as lessee,  vendee or otherwise shall, as long as title thereto shall remain in the port  authority or in another governmental entity, pay as a rental or additional  rental charge an amount in lieu of taxes, if any, not in excess of the taxes on  such improvements and on personal property, including water and sewer service charges or assessment, which such person would have been required to pay had it  been the owner of such property during the period for which such payment is  made;  provided further, however, that neither the port authority nor any of  its projects, facilities, properties, moneys or bonds and notes shall be obligated, liable or subject to lien of any kind whatsoever for the enforcement, collection or payment thereof.  Each such city, town, township or village is hereby authorized and empowered to enter into such agreement or agreements with the port authority, which agreement or agreements may also include provisions with respect to the joint review of categories of tenants proposed as occupants for industrial development projects or facilities with the cities, towns, townships or villages in which they are proposed to be located, and to accept the payment or payments which the port authority is hereby authorized and empowered to make or which are paid by a person occupying  any such portion of such industrial development project or facility as rental  or as additional rental in lieu of taxes, and the sums so received by such  city, town, township or village shall be devoted to purposes to which taxes may  be applied in all affected taxing jurisdictions unless and until otherwise  directed by law of the state in which such city, town, township or village is  located.  At least 10 days prior to the authorization by the port authority of  any agreement provided for in this section 11, the port authority shall notify  the chief executive officer of each city in the port district within which an  industrial development project or facility has been included in the master plan  provided for in paragraph b. of section 3 hereof of the proposed authorization  of such agreement, shall seek their comments and shall include with such authorization any comments received from such city.  The port authority shall  not sell or lease substantially all of an industrial development project or  facility to a proposed purchaser or lessee without the prior approval by the  municipality wherein the project or facility is located of such purchaser or  lessee.

     L.1978, c. 110, s. 11, eff. Aug. 24, 1978.
 

State Codes and Statutes

State Codes and Statutes

Statutes > New-jersey > Title-32 > Section-32-1 > 32-1-35-82

32:1-35.82.  Taxes and assessments;  approval of municipality of purchaser or lessee
    The port authority shall be required to pay no taxes or assessments upon any  of the property acquired and used by it for any of the purposes of this act or  upon any deed, mortgage or other instrument affecting such property or upon the  recording of any such instrument.  However, to the end that no taxing  jurisdiction shall suffer undue loss of taxes and assessments by reason of the  acquisition and ownership of property by the port authority for any of the  purposes of this act, the port authority is hereby authorized and empowered, in  its discretion, to enter into a voluntary agreement or agreements with any  city, town, township or village whereby the port authority will undertake to  pay in lieu of taxes a fair and reasonable sum, if any, or sums annually in  connection with any real property acquired and owned by the port authority for  any of the purposes of this act and to provide for the payment as a rental or  additional rental charge by any person occupying any portion of any industrial  development project or facility either as lessee, vendee or otherwise of such reasonable sum, if any, or sums as hereinafter provided.  Such sums in connection with any real property acquired and owned by the port authority for  any of the purposes of this act shall not be more than the sum last paid as  taxes upon such real property prior to the time of its acquisition by the port  authority;  provided, however, that in connection with any portion of any  industrial development project or facility, which is owned by the port  authority or another governmental entity and improved pursuant to this act with  buildings, structures or improvements greater in value than the buildings,  structures or improvements in existence at the time of its acquisition,  development or improvement by the port authority, any person occupying such  portion of such industrial development project or facility either as lessee,  vendee or otherwise shall, as long as title thereto shall remain in the port  authority or in another governmental entity, pay as a rental or additional  rental charge an amount in lieu of taxes, if any, not in excess of the taxes on  such improvements and on personal property, including water and sewer service charges or assessment, which such person would have been required to pay had it  been the owner of such property during the period for which such payment is  made;  provided further, however, that neither the port authority nor any of  its projects, facilities, properties, moneys or bonds and notes shall be obligated, liable or subject to lien of any kind whatsoever for the enforcement, collection or payment thereof.  Each such city, town, township or village is hereby authorized and empowered to enter into such agreement or agreements with the port authority, which agreement or agreements may also include provisions with respect to the joint review of categories of tenants proposed as occupants for industrial development projects or facilities with the cities, towns, townships or villages in which they are proposed to be located, and to accept the payment or payments which the port authority is hereby authorized and empowered to make or which are paid by a person occupying  any such portion of such industrial development project or facility as rental  or as additional rental in lieu of taxes, and the sums so received by such  city, town, township or village shall be devoted to purposes to which taxes may  be applied in all affected taxing jurisdictions unless and until otherwise  directed by law of the state in which such city, town, township or village is  located.  At least 10 days prior to the authorization by the port authority of  any agreement provided for in this section 11, the port authority shall notify  the chief executive officer of each city in the port district within which an  industrial development project or facility has been included in the master plan  provided for in paragraph b. of section 3 hereof of the proposed authorization  of such agreement, shall seek their comments and shall include with such authorization any comments received from such city.  The port authority shall  not sell or lease substantially all of an industrial development project or  facility to a proposed purchaser or lessee without the prior approval by the  municipality wherein the project or facility is located of such purchaser or  lessee.

     L.1978, c. 110, s. 11, eff. Aug. 24, 1978.