[Adopted 3-10-1998 by Ord. No. 98-3 (Ch. 225, Art. I, of
the 1986 Code)]
As used in this article, the following terms shall have the
meanings indicated:
A portion or all of a municipality which has been determined
to be an area in need of rehabilitation or redevelopment pursuant
to the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1 et
seq., a blighted area as determined pursuant to the Blighted Areas
Act, N.J.S.A. 40:55-21.1 et seq.,[1] or which has been determined to be in need of rehabilitation
pursuant to N.J.S.A. 54:4-3.72 et seq., 54:4-3.95 et seq., or 54:4-3.121
et seq.[2]
The officer of a taxing district charged with the duty of
assessing real property for the purpose of general taxation.
Substantially ready for the intended use for which a building
or structure is constructed, improved or converted.
Property created or recorded as a condominium pursuant to
the Condominium Act, N.J.S.A. 46:8B-1 et seq.
A housing corporation or association wherein the holder of
a share or membership interest thereof is entitled to possess and
occupy, for dwelling purposes, a house, apartment or other unit of
housing owned by the corporation or association or to purchase a unit
of housing owned by the corporation or association.
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 the building
or buildings are erected and which may be necessary for the fair enjoyment
thereof, but shall not mean any building or part of a building defined
as a "multiple dwelling" pursuant to the Hotel and Multiple Dwelling
Law, N.J.S.A. 55:13A-1 et seq. A dwelling 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 within 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 the cooperative, if the residential
units are owned separately.
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 N.J.S.A.
40A:21-1 et seq.
[Amended 12-7-2016 by Ord. No. 2016-26]
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 or work
and which does not change its permitted use. In no case shall it include
repair of fire or other casualty damage to a property for which payment
of a claim was received by any person from an insurance company at
any time during the three-year period immediately proceeding the filing
of an application pursuant to N.J.S.A. 40A:21-1 et seq.[3]
The entire Borough of Wood-Ridge is hereby designated as an
area in need of rehabilitation and in which one- and two-family dwelling
units may be eligible for tax exemption pursuant to this article.
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.
The following procedure shall govern applications for tax exemptions
for improvements within the Borough of Wood-Ridge:
A.
An application for an exemption for improvements as set forth in
this article shall be made to the Assessor upon a form approved by
the Mayor and Council and the Assessor.
B.
Every application for exemption shall be filed with the Assessor
within 30 days, including Saturdays and Sundays, following the completion
of the improvement, conversion, alteration or construction.
C.
Every application for exemption, or exemption and abatement, which
is filed within the time specified shall be approved and allowed by
the Assessor to the degree that the application is consistent with
the provisions of this article, provided that the improvement qualifies
as an improvement pursuant to the provisions of N.J.S.A. 40A:21-1
et seq.
D.
The granting of an exemption, or exemption and abatement, shall be
recorded and made part of the official tax records of the taxing district,
which records shall contain a notice of the termination date thereof.
Applicants for tax exemption on dwellings shall provide to the
Mayor, the Borough Council and the Assessor an application, setting
forth:
A.
A general description of the dwelling for which the exemption is
sought.
B.
The legal description of all real estate necessary for the dwelling.
C.
Plans, drawings and other documents as may be required by the Mayor,
the Borough Council and/or the Assessor to demonstrate the structure
and design of the dwelling.
D.
Estimates of the cost of completing such dwelling.
F.
A description of any lease agreements that would be made by the applicant
on the dwelling during the first full year following the termination
of the tax exemption.
G.
Such other pertinent information as the Mayor, the Borough Council
and/or Assessor may require.
A.
This article shall affect dwelling units primarily and directly affected
by a home improvement in any single- or two-family dwelling property
more than 20 years old.
B.
The first $25,000 in the Assessor's full and true value of home
improvements for each dwelling unit primarily and directly affected
by a home improvement shall not be regarded as increasing the value
of such property for a period of five years.
C.
During the five-year exemption period, the assessment on said dwelling
shall in no case be less than the assessment immediately prior to
improvement, except in the case of damage through action of the elements
sufficient to warrant a reduction.
D.
This article shall apply only to an improvement made pursuant to
a building permit lawfully applied for and issued prior to the improvement
being made.
Pursuant to N.J.S.A. 40A:21-20, notice of the adoption of this
article shall be included in the mailing of annual property tax bills
to each owner of a dwelling located in the Borough of Wood-Ridge during
the first year following adoption of this article.
Any such exemption authorized pursuant to this article shall
be approved and determined in accordance with the provisions of N.J.S.A.
40A:21-1 et seq., and any applicable rules and regulations promulgated
by the Commissioner of the Department of Community Affairs.
