The value of any blast or radiation fallout shelter erected upon real property occupied for residential purposes by not more than 2 families, to the extent that it has enhanced the value of such property, shall be exempt from taxation, provided, however, that such exemption shall not exceed $1,000.00 of the assessed value of such property based at 100% of true value.
N.J. Stat. Ann. § 54:4-3.48
Exemption of blast or radiation fallout shelters
Known as the Uniform Transitional Utility Assessment Act
The act spans §§ 54:10A-1 to 54:8A-99 (2,083 sections).
L.1962, c. 87, s. 1, eff
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.