|Property Tax Exemption|
|New Jersey law exempts the property of nonprofit organizations from taxation.
The New Jersey Constitution exempts from state property tax real and personal property owned by nonprofit corporations and used exclusively for charitable purposes. N.J. Const. art. VIII, §1, ¶2.
In addition, New Jersey law specifically exempts from property tax “all buildings actually used in the work of … corporations organized exclusively for hospital purposes.” N.J. Stat. §54: 4-3.6.