New Jersey Statutes Title 54. Taxation 54 § 4-3.15

Any personal property or real estate not exceeding 250 acres in extent, owned and actually and exclusively used by any corporation organized under the laws of New Jersey to provide instruction in agricultural pursuits for soldiers and sailors of the United States who have sustained a permanent disability while in active service in time of war, provided all income derived from the property in excess of the expense of its maintenance and operation, shall be used exclusively for the benefit of soldiers and sailors with permanent disabilities, shall be exempt from taxation under this chapter.