58:14-34.23 - Exemption from taxation - New Jersey Statutes

58:14-34.23.  Exemption from taxation
    The sewerage system and all other property of the commissioners 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 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 funds, income, system 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 estate and  transfer inheritance taxes and taxes on transfers by or in contemplation of  death.     L.1953, c. 388, p. 2022, s. 14.