[HISTORY: Adopted by the Mayor and Council of the Town of Secaucus; 11-10-80 as Ord. No. 80-41. Amendments noted where applicable.]
[Amended 8-24-93 by Ord. No. 93-46]
Pursuant to P.L. 1991, c. 441, the Town of Secaucus adopts a policy of tax abatement on added assessments respecting one and two family homes regarding the first $15,000 of the assessor's full and true value of improvements for each dwelling unit, primarily and directly affected by the improvement in any dwelling more than 20 years old, as not increasing the value of the property to which the improvements are made for a period of five years, as more fully set forth in P.L. 1991, c. 441, Section 5A.
Notwithstanding any other provision herein, any person demolishing (more than 50% of the structure) for the purpose of rebuilding immediately thereafter any residential one or two family, owner-occupied home (structure) over 20 years old used as the owner's primary residence shall be entitled to have up to $15,000 of the Assessor's full and true value of improvements for each unit of such structure/dwelling as not being considered for assessment purposes for a period of five years, as more fully set forth in P.L. 1991, c. 441, Section 5(a), provided that during the exemption period, the assessment on the newly constructed structure/ property shall not be less than the original unimproved structure except if the rebuilt structure is assessed for its full and true value or there is damage to the structure through the action of the elements sufficient to warrant deduction.
Nothing herein shall relieve the property owner from complying with all state and local building and zoning laws.
[Added 8-23-94 by Ord. No. 94-13]