[Amended by Ord. No. 6-97]
All housing units 20 years or older shall have exempt from taxation
the first $25,000 of improvements per unit for a period of five years.
The property tax abatement procedure of the Township shall be
as provided by statute and by administrative regulation of the Department
of Community Affairs.
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. III)]
The Township Assessor shall implement the application of such
law in the Township and shall accept and receive applications for
exemption of improvements as qualify, and shall record such applications
and make them a permanent part of the official tax records of the
Township. The Township Assessor shall within a year of the adoption
of the ordinance codified in this article supply to each residential
taxpayer an informational flyer in a form approved by the Department
of Community Affairs.