{"data":{"id":"us-nj/n.j.-stat.-40a-12a-86","jurisdiction":"us-nj","citation":"N.J. Stat. § 40A:12A-86","heading":"Exemption from property taxation.","body":"13.\tThe land banking agreement between the municipality and a land bank entity may provide that properties held by the land bank entity in trust on behalf of the municipality pursuant to section 7 of P.L.2019, c.159 (C.40A:12A-80), or acquired by the land bank entity pursuant to section 6 of P.L.2019, c.159 (C.40A:12A-79), are held in trust by the entity on behalf of the municipality for a public purpose and shall be exempt from property taxation until or unless leased or conveyed by the entity on behalf of the municipality or used by the entity for a purpose that is not eligible for exemption from taxation.\nL.2019, c.159, s.13.","path":["TITLE 40A MUNICIPALITIES AND COUNTIES"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"bb79ea9494e323a7b63ee2c0cf34d45a74f8cf918cebcfe6ab506e7ba28c51bf","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-40a-12a-85","next":"us-nj/n.j.-stat.-40a-12a-87"},"notice":"GroundRules: Original legal text. Not legal advice."}