[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.
A. 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]