40:68A-63 - Tax exemptions - New Jersey Statutes

40:68A-63.  Tax exemptions
    Every port system and all other properties of a municipal port authority are  hereby declared to be public property of a political subdivision of the State  and devoted to an essential public and governmental function and purpose and  shall be exempt from all taxes and special assessments of the State or any  subdivision thereof.  All bonds issued pursuant to this act are hereby declared  to be issued by a political subdivision of this State and for an essential  public and governmental purpose and to be a public instrumentality and such  bonds, and the interest thereon and the income therefrom, and all facility  charges, funds, revenues and other moneys pledged or available to pay or secure  the payment of such bonds, or interest thereon, shall at all times be exempt  from taxation except for transfer, inheritance and estate taxes and taxes on  transfers by or in contemplation of death.

     L.1960, c. 192, p. 830, s. 35, eff. Feb. 15, 1961.