The Township of Plumsted is designated as a "Qualified Municipality"
pursuant to P.L. 1975, c. 104, as amended. The entire Township of
Plumsted is hereby designated as an area in which residential buildings
may be eligible for tax exemptions pursuant to P.L. 1991, c. 441,
as amended.
[Ord. #93-09, § 1]
All housing units which are in buildings at least twenty (20)
years old, and which are otherwise eligible for tax exemptions pursuant
to P.L. 1991, c. 441, as amended, the regulations duly promulgated
pursuant to thereto and this section shall have exempt from taxation
the first twenty-five thousand dollars ($25,000) of otherwise taxable
improvements for a period of five (5) years following completion of
such improvements.
No exemption of improvements from taxation shall be allowed
except pursuant to statute and to duly promulgated regulations of
the Department of Community Affairs and the Division of Taxation.
The Tax Assessor for the Township of Plumsted shall implement
P.L. 1975, c. 104, as amended, in the Township of Plumsted and shall
accept and receive applications for exemption of improvements from
taxation and shall report such applications or retain them as a permanent
part of the municipal tax records.
The Mayor of the Township of Plumsted is authorized to execute
agreements with developers for tax abatements on commercial and industrial
improvements or projects, pursuant to the provisions of P.L. 1991,
c. 441, providing for the exemption from real property taxation of
improvements and the abatement of real property taxation on products
for a period of five (5) years.
[Ord. #97-06, §§ 1, 2]
The following procedures shall govern agreements for tax abatement
entered into by the Township of Plumsted and developers:
A.
Improvements.
(1)
All improvements, as defined in C. 54:4-3.96, shall be exempt from
local real property taxes, if approved by the Tax Assessor after proper
application has been made. An application shall be upon the form approved
by the Director of the Division of Local Government Services, Department
of Community Affairs.
(2)
Applicants shall apply for tax exemption on improvements prior to
the commencement of construction of the improvement, provided that
the applicant must file a proper application with the Tax Assessor
within thirty (30) days of the completion of the improvement, in order
to be eligible for tax exemption thereon.
(3)
Every properly completed application for exemption of one or more
improvements which is filed within thirty (30) days of the completion
of the improvement shall be approved and allowed by the Tax Assessor
not later than within thirty (30) days of its filing.
(4)
In determining the amount of improvement exemption to be granted,
the municipality shall regard up to the Assessor's full and true
value of the improvements made as not increasing the value of the
property.
(5)
During the exemption period of five (5) years, 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 action of the elements sufficient to warrant a reduction.
(6)
Pursuant to N.J.S.A. 40A:21-7, all commercial structures within the
Township of Plumsted are eligible to be granted tax assessment exemptions
for improvements and additions.
(7)
No exemption or abatement shall be granted, or tax agreement entered
into, pursuant to this ordinance or P.L. 1991, Chapter 441, with respect
to any property for which property taxes are delinquent or remain
unpaid, or for which penalties for nonpayment of taxes are due. Failure
to keep all property taxes due, paid current and in full, shall result
in the loss of the tax exemption for the entire balance of the exemption
period granted.
(8)
Definitions:
(a)
COMMERCIAL OR INDUSTRIAL STRUCTURE — Structure or part
thereof used for the manufacturing, processing or assembling of material
or manufactured products, or for research, office, industrial, commercial,
retail, recreational, hotel or motel facilities, or warehousing purposes,
or for any combination thereof, which the governing body determines
will tend to maintain or provide gainful employment within the municipality,
assist in the economic development of the municipality, maintain or
increase the tax base of the municipality and maintain or diversify
and expand commerce within the municipality. It shall not include
any structure or part thereof used or to be used by any business relocated
from another qualifying municipality.
(b)
EXEMPTION — 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 section.
(c)
IMPROVEMENT — 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
the case of multiple dwelling, it includes only improvements which
affect common areas or elements, or three (3) or more dwelling units
within the multiple dwelling. In the case of a multiple dwelling or
commercial or industrial structure, it shall not include ordinary
painting, repairs and replacement of maintenance items, or an enlargement
of the volume of an existing structure by more than thirty percent
(30%). In no case shall it include the repair of fire or other 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 (3) year period
immediately preceding the filing of an application pursuant to this
section.
B.
Projects.
(1)
Prior to the issuance of a building permit, applicants for tax abatement
on projects shall provide the Township of Plumsted with an application
setting forth:
(a)
A general description of the project for which abatement is
sought;
(b)
A legal description of all real estate necessary for the project;
(c)
Plans, drawings and other documents as may be required by the
Township of Plumsted to demonstrate the structure and design of the
project;
(d)
A description of the number, classes and types of employees
to be employed at the project site within two (2) years of completion
of the project;
(e)
A statement of the reasons for seeking tax abatement on the
project, and a description of the benefits to be realized by the applicant
if tax abatement is granted;
(f)
Estimates of the cost of completing such project;
(g)
A statement showing:
(1)
The real property taxes currently being assessed at the project
site;
(2)
Estimated tax payments that would be made annually by the applicant
on the project during the period of tax abatement; and
(3)
Estimated tax payments that would be made by the applicant on
the project during the first full year following the termination of
the tax abatement agreement;
(h)
A description of any lease agreements between the applicant
and proposed users of the project, and a history and description of
the user's business;
(i)
Such other pertinent information as the Township of Plumsted
may require.
(2)
Upon approval of an ordinance authorizing an agreement for tax abatement
for a particular project, the Township of Plumsted shall enter into
a written agreement with the applicant for the abatement of local
real property taxes. The agreement shall provide for the applicant
to pay to the Township of Plumsted in lieu of full property tax payments
an amount annually to be computed by using either, but not a combination
of, the formulae set out in C. 54:4-3.102. Such agreements may also
provide for tax phase-in pursuant to subsection c of C. 54:4-3.102.
All tax abatement agreements hereunder shall be in effect for a period
of not more than five (5) days starting with the date of completion
of the project.
