[Adopted 1-25-2005 by Ord. No. 1117[1]]
[1]
Editor's Note: This ordinance also superseded
former Art. I, Home Improvement Tax Exemption, adopted 9-19-1978 by
Ord. No. 656.
[Amended 7-23-2019 by Ord. No. 1398]
A.
For the
purpose of taxation, the first $25,000 is Assessor's full and true
value of home improvements for each dwelling unit primarily and directly
affected by a home improvement in any single or multidwelling property
more than 20 years old shall not increase the value of such property
for a period of five years, notwithstanding that the value of the
dwelling to which said improvements are made has increased thereby.
In no event, however, shall the assessment during that period be less
than the assessment thereon existing immediately prior to such home
improvements unless there shall be destruction through action of the
elements sufficient to warrant a reduction.
B.
In accordance with N.J.S.A. 40A:21-4, an ordinance permitting the exemptions from assessment as outlined in § 212-1A is readopted to retroactively take effect January 1, 2015.
C.
Notwithstanding anything to the contrary contained in the provisions of this chapter, only home improvements for properties approved by December 31, 2019, shall be exempt from assessment pursuant to Article I of Chapter 212. All home improvements approved by the Assessor prior to December 31, 2019, shall be permitted to complete the balance of the five-year exemption period. Any home improvement not approved by the Assessor by December 31, 2019, shall not be exempt from assessment.
The above amounts up to $25,000 may be deducted
from the amount determined by the Assessor on October 1 of any year
following the determination of the completion of the improvements
and shall continue to be so treated for each of the five tax years
subsequent to the original determination by the Assessor.
Additional improvements completed during a period
in which the improved property is subject to the previously granted
exemption in an amount less than the maximum deduction permissible
shall be qualified for additional deduction privileges, under terms
and conditions, however, that in no tax year shall total deductions
for any single property exceed $25,000.
A taxing district desiring to seek the exemption
to the above shall file a written application with the Tax Assessor
of Haddon Township pursuant to the directions of P.L. 1975, c. 104.[1]
[1]
Editor's Note: P.L. 1975, c. 104, was repealed
1-18-1992 by P.L. 1991, c. 441. See now N.J.S.A. 40A:21-1 et seq.
As used in this article, the following terms
shall have the meanings indicated:
Substantially ready for use for which it was intended.
A building or part of a building used, to be used or held
for use as a home or residence, including accessory buildings located
on the same premises, together with the land upon which said building
or buildings are erected and which may be necessary for the fair enjoyment
thereof, but shall not mean a building or part of a building defined
as a "multiple dwelling" pursuant to P.L. 1967, c. 76.[1]
A modernization, rehabilitation, renovation, alteration or
repair of a dwelling which produces a physical change in the existing
building or structure that improves the safety, sanitation, decency
and attractiveness of the building or structure as a place for human
habitation and which does not change its permitted use.
[1]
Editor's Note: See N.J.S.A. 55:13A-1 et seq.
