[HISTORY: Adopted by the Borough Council of the Borough of
Medford Lakes as indicated in article histories. Amendments noted
where applicable.]
[Adopted 6-9-2021 by Ord. No. 679]
Pursuant to N.J.S.A. 54:4-3.30 et seq., all qualified disabled
veterans or eligible surviving spouses owning a taxable residential
dwelling in the Borough of Medford Lakes shall be eligible for a full
100% property tax exemption of their property tax bill following the
completion of the necessary application materials to be filed with
the Borough Tax Assessor. Upon approval of such application by the
Borough Tax Assessor, the exemption will commence with an effective
date based upon the date that a fully conforming and ultimately approved
application was submitted.
A.
Pursuant to N.J.S.A. 54:4-3.32, once an application for exemption is approved by the Borough Tax Assessor, the Borough shall provide refunds of any property taxes paid dating back to the date that a fully conforming and ultimately approved application was submitted, except as noted in Subsection B below;
B.
In the case of a surviving spouse as set forth in N.J.S.A. 54:4-3.30(b)(2)
and (c), such exemptions shall be prorated by the Borough Tax Collector
for the remainder of any taxable year from the date the claimant shall
have acquired title to the real property intended to be exempt.
