[Adopted by Ord. No. 14-96 (Title 3, Ch. 3.12, of the 1998 Township Code)]
As used in this article:
The officer of the Township of Edgewater Park 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
the improvement, conversion, alteration or construction not registered
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, P.L. 1963, c. 168 (N.J.S.A. 46:8A-1
et seq.).
A modernization, rehabilitation, renovation, alteration,
or repair which produces 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 to
be 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
enjoyment thereof, including multiple dwellings of no more than two
units. A dwelling shall include, as they are separately conveyed to
individual owners, individual residents 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, P.L. 1963, c. 168 (N.J.S.A. 46:8A-1 et seq.) or the Condominium
Act, P.L. 1969, c. 257 (N.J.S.A. 46:8B-1 et seq.), or of a cooperative,
if the residential units are conveyed unseparately.
The Tax Assessor of the Township 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 the 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 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 evaluation of
the property for the previous year plus any portion of the assessed
evaluation of the improvement not allowed as an exemption pursuant
to this article. The property shall continue to be treated in the
appropriate manner for each of the five full years subsequent to the
original determination by the 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
Assessor. Every application shall be on a form prescribed by the Director
of the Division of Taxation and the Department of the Treasury and
provided for the use of claimants by the Township and shall be filed
with the 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 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. Applications
for exemption may be filed to take initial effect for the first full
year commencing after the tax year in which the ordinance codified
in this article is adopted and for tax years thereafter, but no application
for exemption shall be filed for an exemption to take initial effect
for the 11th full tax year, or any tax year occurring thereafter,
unless the ordinance codified in this article is readopted during
the 10th year after initial adoption. The granting of an exemption
shall be recorded and made a permanent part of the official tax record
of the Township, which records shall contain a notice of the termination
date hereof.
Pursuant to N.J.S.A. 40A:21-20, notice of the adoption of the
ordinance codified in this article shall be included in the mailing
of annual property tax bills to each owner of a dwelling located within
the Township during the first year following adoption of the ordinance
codified in this article.
