[Adopted 2-12-1980 by Ord. No. 1980-1]
The Township of Hainesport, subject to required county and state approvals, is hereby acknowledged as a qualified municipality under Public Law 1975, Chapter
104, as amended, Tax Abatement on Added Assessments.
The entire Township of Hainesport is designated
to participate in said tax abatement on added assessments legislation.
[Amended 6-9-1981 by Ord. No. 1981-6; 4-12-1994 by Ord. No. 1994-4-3]
All housing units 20 years old or older shall
have exempt from taxation the first $15,000 of the Assessor's full
and true value of improvements per unit for a period of five years.
The property tax abatement procedure of the
Township of Hainesport shall be as provided by statute and by administrative
regulation of the Department of Community Affairs.
The Tax Assessor of the Township of Hainesport
shall implement the application of such law and shall accept and receive
applications for exemption of improvements as qualified and shall
record such applications and make them a permanent part of the official
tax records of the Township of Hainesport. The Tax Assessor shall,
within one year of the adoption of this article, supply to each residential
taxpayer notice of this article in a form approved by the Department
of Community Affairs.
[Adopted 5-14-2002 by Ord. No. 2002-3-4; amended in its entirety 2-8-2005 by Ord. No. 2005-2-1]
The Township of Hainesport shall levy upon property
owners an additional tax assessment to be dedicated toward the purchase
of lands or easements within the Township of Hainesport for active
and passive recreation and/or open space. Said moneys, once collected,
shall be congregated in a new fund called the "Open Space Trust Fund."
[Amended 6-10-2008 by Ord. No. 2008-3-5]
The Open Space Trust Fund shall be funded through
the collection of additional local ad valorum taxes on real property
located in the Township in the amount of $0.03 per $100 of assessed
value.
Any property or easement purchased by the Open
Space Trust Fund shall not be sold or conveyed unless and until authorized
by binding public referendum.