[Adopted 7-3-1985 by Ord. No. 263-85]
The Township of Weymouth hereby acknowledges having been duly
designated as a "qualified municipality" pursuant to P.L. 1975, c.
104, as amended.
The entire Township of Weymouth is hereby designated as the
area in which residential buildings may be eligible for tax exemption
pursuant to P.L. 1975, c. 104, as amended.
All housing units which are in buildings at least 20 years old,
and which are otherwise eligible for tax exemption pursuant to P.L.
1975, c. 104, as amended, the regulations duly promulgated pursuant
thereto and this article, shall have exempt from taxation the first
$10,000 of otherwise taxable improvements for a period of five years
following completion of such improvements.
No exemption of improvements from taxation shall be allowed
except pursuant to statute and to duly promulgated regulations of
the Department of Community Affairs and the Division of Taxation.
The Tax Assessor of the Township of Weymouth shall implement
P.L. 1975, c. 104, as amended, in the Township of Weymouth and shall
accept and receive applications for exemption of improvements from
taxation and shall record such applications and retain them as a permanent
part of the municipal tax records.
The Tax Collector shall, within a year of the adoption of this
article, supply to each residential taxpayer a notice concerning the
tax exemption program, which notice shall be in a form approved by
the Department of Community Affairs.