S 3326
Subjects most State property to local property taxation beginning on July 1, 2026.
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- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Bill overview
This bill would change the way property taxes are collected in New Jersey by requiring the State and its agencies to pay property taxes on their holdings, beginning July 1, 2026. Currently, much of state-owned property is exempt from local property taxes. However, the bill includes provisions to exempt certain properties, specifically those where removing the tax-exempt status would negatively impact existing bondholder agreements. The bill also aims to ensure local municipalities are not penalized financially due to this change.
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