Bill > A4918

This bill clarifies that stadiums and arenas owned by local government entities, such as counties and municipalities, are exempt from property taxation, meaning they will not be subject to property taxes. It amends existing laws to explicitly include these types of public facilities within the scope of property tax exemptions for government-owned property used for public purposes. The bill also clarifies that leasehold interests in property owned by a county or municipality, or their agencies or authorities, are also exempt from taxation, especially when that property is used as a stadium or arena.