New Jersey S3326 would subject most State property to local property taxation starting July 1, 2026.

New Jersey S3326 would end the tax-exempt status of property owned by the State, its agencies, and authorities created by the State, making them subject to local property taxation starting July 1, 2026. This change would apply to all state-owned property except for parcels where a certification is filed stating that removing the tax-exempt status would impair the rights of bondholders. The bill also mandates that liens for delinquent taxes against state-owned property be enforced in the same manner as all other tax liens.

New Jersey S3326 would subject most State property to local property taxation starting July 1, 2026.

New Jersey S3326 would end the tax-exempt status of property owned by the State, its agencies, and authorities created by the State, making them subject to local property taxation starting July 1, 2026. This change would apply to all state-owned property except for parcels where a certification is filed stating that removing the tax-exempt status would impair the rights of bondholders. The bill also mandates that liens for delinquent taxes against state-owned property be enforced in the same manner as all other tax liens.