# N.J. Stat. § 40A:21-2: Findings, purpose

> New Jersey · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-2

## Section

- **Citation:** N.J. Stat. § 40A:21-2
- **Heading:** Findings, purpose
- **Jurisdiction:** New Jersey
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** NJ Code / Title 40A / Chapter 21 / Section 21-2

## Text

2. The Legislature finds that the various statutes authorized by Article VIII, Section I, paragraph 6 of the New Jersey Constitution permitting municipalities to grant for periods of five years exemptions or abatements, or both, from taxation in areas in need of rehabilitation have proven to be effective in promoting the construction and rehabilitation of residential and commercial and industrial structures in areas threatened with economic and social decline. There exists, however, a need to consolidate and make more coherent the most useful features of those various statutes in order to promote the most effective and coordinated use of the various authorizations afforded to municipalities and to include in-fill construction in a comprehensive strategy of rehabilitation of these areas by permitting exemptions and abatements for construction of new single family and multiple dwellings. It is the purpose of this act to permit municipalities the greatest flexibility possible within the constitutional limitations to address problems of deterioration and decay while preserving the salient features of the existing tax exemption and abatement programs. L.1991,c.441,s.2.

## Nearby sections

- [N.J. Stat. § 40A:21-1 Short title](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-1.md)
- [N.J. Stat. § 40A:21-2 Findings, purpose](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-2.md)
- [N.J. Stat. § 40A:21-3 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-3.md)
- [N.J. Stat. § 40A:21-4 Municipal ordinance granting exemptions or abatements.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-4.md)
- [N.J. Stat. § 40A:21-5 Limits on exemptions on abatements for dwellings](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-5.md)
- [N.J. Stat. § 40A:21-6 Limits on exemptions or abatements for multiple dwellings](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-6.md)
- [N.J. Stat. § 40A:21-6.1 Adoption of ordinance granting abatement, exemption from taxation for certain improvements to residential properties.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-6.1.md)
- [N.J. Stat. § 40A:21-6.2 Tax exemption, abatement for certain housing improvements to accommodate certain disabled persons.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-6.2.md)
- [N.J. Stat. § 40A:21-7 Limits on exemptions for commercial, industrial structures](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-7.md)
- [N.J. Stat. § 40A:21-8 Tax agreements for construction of commercial, industrial structures or multiple dwellings](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-8.md)
- [N.J. Stat. § 40A:21-9 Applications for tax agreements, requirements](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-9.md)
- [N.J. Stat. § 40A:21-10 Formula for payments under tax agreements.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-10.md)
- [N.J. Stat. § 40A:21-11 Tax agreements, duration, other law, valuation of ratables, copy to DCA.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-11.md)
- [N.J. Stat. § 40A:21-12 Failure of conditions, full taxes due, termination](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-12.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-2. Check the current official text before relying on it. Not legal advice.