[HISTORY: Adopted by the Mayor and Council of the Borough
of Lindenwold as indicated in article histories. Amendments noted
where applicable.]
[Adopted 10-28-1992 by Ord. No. 916 (Ch. 185, Art. II, of
the 1981 Code)]
The abatement shall apply to the new construction of commercial
or industrial property upon vacant land, conversion of an existing
property to a commercial or industrial use, acquiring of a use variance
for commercial or industrial use of an existing structure or improvement
to an existing commercial or industrial structure.
A.
Applications for abatement from taxation shall be granted pursuant
to written application therefor filed with and approved by the Assessor
of the Borough of Lindenwold. Such application shall be filed with
the Assessor within 30 days, including Saturday and Sunday, following
the completion of the improvement, conversion or construction.
B.
Every application for abatement shall set forth:
(1)
A general description of a project for which abatement is sought.
(2)
A legal description of all real estate necessary for the project.
(3)
Plans, drawings and other documents as may be requested by the governing
body to demonstrate the structure and design of the project.
(4)
Estimates of the cost of completing such project.
[Amended 11-5-2014 by Ord. No. 2014-01]
In determining the value of real property, the municipality
shall regard up to the Assessor's full and true value of the
improvements 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 abatement
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 structure through the action of the
elements sufficient to warrant a reduction.
[Adopted 2-5-2003 by Ord. No. 1127]
The Tax Assessor of the Borough of Lindenwold is hereby directed
to allow tax exemptions throughout the entire Borough of Lindenwold
in accordance with the provisions of Public Law 1991, Chapter 441.[1]
[1]
Editor's Note: See N.J.S.A. 40A:21-1 et seq.
[Amended 11-5-2014 by Ord. No. 2014-01]
In determining the value of real property for the purpose of
taxation, the first $15,000 in the Assessor's full and true value
of home improvements for each dwelling unit primarily and directly
affected by the improvement in any single-family dwelling; two-, three-
or four-family dwelling, provided the owner(s) occupies one unit;
or condominium and cooperative units more than 20 years old shall
be regarded as not increasing the value of such property for a period
of five years, notwithstanding that the value of the dwelling to which
such improvement is made is 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 damage through action
of the elements sufficient to warrant a reduction.
The above amounts up to $15,000 shall be deducted from the amount
determined by the Assessor on October 1 of any year following the
completion of the improvements to be so treated for each of the five
years subsequent to the original determination by the Assessor.
Additional improvements, completed during a period in which
the improved property is subject to previously granted exemption privileges
in an amount less than the maximum deduction permissible, shall be
qualified for additional deduction privileges under terms and conditions
herein specified; provided, however, that in no tax year shall the
total deductions for any single property exceed $15,000.
A claimant desiring to seek the exemption to the above shall
file a written application, on a form prescribed by the Director of
the Division of Taxation, within 30 days, including Saturdays and
Sundays, following completion of the improvement with the Tax Assessor
of Lindenwold pursuant to the directions of Public Law 1991, Chapter
441.
[Added 6-28-2017 by Ord. No. 2017-10]
Residential properties that receive a tax exemption pursuant
to this article, may obtain a tax abatement of up to 30% of the exemption
amount, to be deducted from the current tax assessment on the property,
upon submission and approval of an application submitted to the Tax
Assessor, on a form prescribed by the Director of the Division of
Taxation, and submitted within the time prescribed for tax exemption
applications, as set forth in this article. The tax abatement will
be granted at the discretion of the Tax Assessor, and shall serve
as an abatement upon the residential property, for a period of five
years, subsequent to approval by the Tax Assessor.
