[Adopted by Ord. No. 9-1999 (Ch. 15.44 of the 1996 Municipal Code); readopted 6-14-2011 by Ord. No.
06-2011[1]]
[1]
Editor's Note: This ordinance also provided that the readoption
was pursuant to P.L. 2007, c. 268.
As used in this article, the following terms shall have the
meanings indicated:
The office of the City charged with the duty of assessing
real property for the purpose of general taxation.
That portion of the assessor's full and true value of any
improvement, conversion, alteration or construction not regarded as
increasing the taxable value of a property pursuant to this article.
A property submitted to a horizontal property regime pursuant
to the "Horizontal Property Act," N.J.S.A. 46:8A-1 et seq.
A modernization, rehabilitation, renovation, alteration or
repair which produces a physical change in an existing building or
structure that improves the safety, sanitation, decency or attractiveness
of the building or structure as a place for human habitation and which
does not change its use as a residential dwelling. In no case shall
it include the repair of fire or other damage to a property for which
claim was received by any person from an insurance company at any
time during the three-year period immediately preceding the filing
of an application pursuant to this article.
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 such building
or buildings are erected and which may be necessary for the fair enjoyment
thereof, including multiple dwellings of no more than two units. Dwellings
shall include, as they are separately conveyed to individual owners,
individual residences within a cooperative, if purchased separately
by the occupants thereof, and individual residences with a horizontal
property regime or a condominium, but shall not include general common
elements or common elements of such horizontal property regime or
condominium as defined pursuant to the "Horizontal Property Act,"
N.J.S.A. 46:8A-1 et seq. or the "Condominium Act," N.J.S.A. 46:8B-1
et seq. or if a cooperative, if the residential units are owned separately.
The Tax Assessor is authorized to grant exemptions from taxation
of improvements to dwellings more than 20 years old. In determining
the value of real property, the Tax Assessor shall regard the first
$25,000 in assessor's full and true value of improvements for each
dwelling unit primarily and directly affected by the improvement as
not increasing the value of the property for a period of five years,
notwithstanding that the value of the property to which the improvements
are made is increased thereby. During the exemption period, the assessment
on the property shall not be less than the assessment thereon existing
immediately prior to the improvements, unless there is damage to the
dwelling through action of the elements sufficient to warrant a reduction.
The Tax Assessor shall determine, on October 1 of the year following,
the date of the completion of an improvement, the true taxable value
thereof. The amount of tax to be paid for the first full tax year
following completion shall be based on the assessed valuation of the
property for the previous year plus any portion of the assessed valuation
of the improvement not allowed an exemption pursuant to this article.
The property shall continue to be treated in the appropriate manner
for each of the five full tax years subsequent to the original determination
by the Tax Assessor.
No exemption shall be granted pursuant to this article with
respect to any property for which property taxes are delinquent or
remain unpaid, or for which penalties for nonpayment of taxes are
due.
No exemption shall be granted pursuant to this article except
upon written application therefor filed with and approved by the Tax
Assessor. Every application shall be on a form prescribed by the Director
of the Division of Taxation in the Department of Treasury, and provided
for the use of claimants by the City, and shall be filed with the
Tax Assessor within 30 days, including Saturdays and Sundays, following
the completion of the improvement. Every application for exemption
which is filed within the time specified shall be approved and allowed
by the Tax Assessor to the degree that the application is consistent
with the provisions of this article, provided that the improvement
for which the application is made qualifies as an improvement pursuant
to the provisions of N.J.S.A. 40A:21-1 et seq. The granting of an
exemption shall be recorded and made a permanent part of the official
tax records of the City, which record shall contain a notice of the
termination date thereof.
