ASSESSOR
Shall mean the officer of a taxing district charged with the duty of assessing real property for the purpose of general taxation.
COMPLETION
Shall mean substantially ready for the intended use for which a building or structure is constructed, improved or converted.
CONDOMINIUM
Shall mean a property created or recorded as a condominium pursuant to the "Condominium Act", P.L. 1969, c.257 (C.46:8B-1 et seq.).
DWELLING
Shall mean a building or part of a building used, to be used or 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 fair enjoyment thereof, but shall not mean any building or part of a building, defined as a "multiple dwelling" pursuant to the "Hotel and Multiple Dwelling Law," P.L. 1967, c.76 (C.55:13A-1 et seq.). A dwelling shall include, as they are separately conveyed to individual owners, individual residences within a cooperative, if purchased separately by the occupants thereof, and individual residents within a horizontal property regime or a condominium, but shall not include "general common elements" and "common elements" of such horizontal property regime or condominium as defined pursuant to the "Horizontal Property Act," P.L. 1963, c. 163 (C.46:8A-1 et seq.), or the "Condominium Act." P.L. 1969, c.257 (C.46:8B-1 et seq.), or a cooperative, if the residential units are owned separately.
EXEMPTION
Shall mean 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 act.
IMPROVEMENT
Shall mean 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 and which does not change its permitted use. 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-year period immediately preceding the filing of an application pursuant to this act.
In determining the value of real property for the purpose of taxation, the first $15,000 in 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, shall not increase 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 for dwellings, 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.
The Assessor shall determine, on October 1st 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 valuation of the property for the previous year. The property shall continue to be treated in the appropriate manner for each of the five full tax years subsequent to the original determination by the Assessor.
Additional improvements completed on a property granted a previous exemption during the period in which such previous exemption is in effect, shall be qualified for an exemption just as if said property had not received a previous exemption. In such case, the additional improvement shall be considered as separate for the purpose of calculating the exemption, provided however, that in any tax year the total exemption for any dwelling or commercial structure shall not exceed the amount set forth in section 25-3 of this chapter.
No exemption shall be granted, pursuant to this chapter with respect to any property for which property taxes are delinquent or remain unpaid, or for which penalties for non-payment of taxes are due.
The exemption of real property taxes provided pursuant to this chapter shall apply to property taxes levied for municipal purposes, school purposes, county government purposes, and for the purposes of funding any other property tax exemption or abatements.
No exemption shall be granted pursuant to this chapter except upon written application therefor filed with and approved by the Assessor of the Borough of Pine Hill. Every application shall be on a form prescribed by the Director of the Division of Taxation in the Department of the Treasury, and provided for the use of claimants by the governing body 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 chapter, provided that the improvement for which the application is made qualifies as an improvement pursuant to the provisions of this chapter. The granting of an exemption shall be recorded and made a permanent part of the official tax records of the borough, which record shall contain a notice of the termination date thereof.
No application for exemption shall be filed for exemptions to take initial effect for the sixth full tax year commencing after the tax year in which this chapter is adopted[1] or any tax year thereafter, unless this chapter is readopted by the governing body pursuant to N.J.S.A. 40a:21-4.
[1]
Editor's Note: This chapter was adopted September 16, 1996 and was thereafter readopted September 18, 2000 and again readopted October 24, 2005.