N.J. Stat. § 52:27C-26: Taxation of property of authority

All real property and improvements thereon owned by the authority shall be assessed and taxed in the municipalities wherein such lands are situate for State, school, county, municipal and improvement purposes in the same manner as other real property owned by individuals. The taxes for any given year shall be paid out of the rentals or income accruing from such property for the year in which the taxes are assessed.

L.1944, c. 85, art. 3, p. 176, s. 26.