Bill > S1526

Introduced Session

Under R.S.54:4-3.6, all buildings actually used for colleges, schools, academies, and seminaries, are exempt from property taxation. This exemption extends to faculty housing provided at these educational institutions. These educational institutions that provide faculty housing to faculty members who may have children attending local public schools currently contribute nothing toward the education of those children, thereby burdening other property taxpayers with the cost of educating these children in the local public schools. Property tax exempt faculty housing also does not support the costs of providing municipal and county services. This bill would limit property tax exempt housing at these educational institutions to only student dormitories, a maintenance supervisor's residence, and a presidential residence, and not to housing for faculty or other employees of the educational institution, thereby requiring educational institutions to pay property taxes on the assessed value of their faculty housing for the support of all governmental entities funded through the local property tax levy.

AI Summary

Committee Categories

Carmen Amato (R)*,  Paul Sarlo (D)*,  Jim Holzapfel (R),  Gordon Johnson (D),  Angela Mcknight (D),  Declan O'Scanlon (R),  Shirley Turner (D), 

Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 01/09/2024)

Official Document