[Adopted 6-22-2009 by Ord. No. 2009-19 (Ch. 3.28 of the 2003 Municipal Code)]
A. 
Program created. There is hereby created in the Township of Bordentown a Home Improvement Tax Abatement Program.
B. 
Assessment of certain dwellings affected by home improvements. Pursuant to the provisions of the Five-Year Exemption and Abatement Law, N.J.S.A. 40A:21-1 et seq., as amended and supplemented, in determining the value of real property for the purposes of taxation throughout the Township of Bordentown, the first $25,000 in the Tax Assessor's full and true value of home improvements for each dwelling unit primarily and directly affected by a home improvement in a single-dwelling property more than 20 years old shall not increase the value of such property for a period of five years, notwithstanding that the value of the dwelling to which such improvements are made is increased thereby; provided, however, that during said period, the assessment on such dwelling shall, in no case, except through damage by the elements sufficient to warrant a reduction, be less than the assessment thereon existing immediately prior to such home improvements.
C. 
Application for exemption. No exemption shall be granted or allowed except upon written application therefor filed with the Tax Assessor of the Township of Bordentown. Action by the Tax Assessor on such application shall be in compliance with N.J.S.A. 40A:21-1 et seq., together with the standards, guidelines, rules and regulations applicable to such applications.
[Amended 9-14-2020 by Ord. No. 2020-20]
A. 
Abatements granted; conditions. The Township Committee may enter into agreements with developers and/or owners for the granting of tax abatements and/or exemptions for the construction of certain types of commercial or industrial structures throughout the Township pursuant to the provisions of the Five-Year Exemption and Abatement Law, N.J.S.A. 40A:21-1 et seq., including the provisions for payments in lieu of taxes as provided in N.J.S.A. 40A:21-10 et seq., subject to the following conditions:
(1) 
All of the definitions and provisions set forth in the Five-Year Exemption and Abatement Law are incorporated herein as if set forth separately.
(2) 
All projects subject to tax agreement as provided herein shall be subject to all applicable federal, state and local laws and regulations on pollution control, worker safety, discrimination in employment, housing provision, zoning, planning and building code requirements.
[Added 9-14-2020 by Ord. No. 2020-20]
A. 
Applicants for tax abatement and/or exemption for construction, conversion, alteration, or improvement of one- or two-family dwellings or commercial or industrial structures shall provide the Township Committee with an application setting forth the information required by N.J.S.A. 40A:21-9, together with such other pertinent information as the Township Committee may require.
B. 
Applicants shall be encouraged to apply for tax abatement and/or exemption prior to commencement of construction (allowing, however, for preparatory site work undertaken prior to commencement of construction).
C. 
Upon receipt of a completed application as set forth above, the Township Committee shall review the same to determine whether it wishes to grant any particular project a tax abatement and/or exemption. If the Township Committee approves the application and wishes to enter into a written agreement with the applicant for the abatement and/or exemption of local real property taxes, the Township Committee shall adopt such an authorizing ordinance. Any agreement so authorized shall provide for the applicant to pay the municipality in lieu of full property tax payments an amount annually to be computed by one, but in no case a combination, of the formulas set forth in N.J.S.A. 40A:21-10, i.e., cost basis, gross revenue basis or tax phase-in basis.
D. 
All tax agreements hereunder shall be in effect for a period of no more than five full years next following the date of completion of the project. All tax agreements shall be applied for and granted on an individual project basis.
E. 
No abatement and/or exemption shall be granted or tax agreement entered into pursuant to this section with respect to any property for which property taxes are delinquent or remain unpaid or for which penalties for nonpayment of taxes are due.
F. 
No abatement and/or exemption shall be granted pursuant to this section except upon written application therefor filed with and approved by the Assessor and the Township Committee of the taxing district wherein the construction is made.
G. 
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 of the municipality constituting the taxing district and shall be filed with Assessor within 30 days, including Saturdays and Sundays, following the completion of the construction, improvements, conversion, or conversion alteration. Every application for abatement and/or exemption which is filed within the time specified shall be reviewed by the Assessor and Township Committee and considered for the abatement/exemption program. All applications shall be considered by the Assessor and the Township Committee to the degree that the application is consistent with the provisions of the adopting ordinance or the tax agreement, provided that the project for which the application is made qualifies as construction pursuant to the provisions of this section and the tax agreement, if any.
[Added 9-14-2020 by Ord. No. 2020-20]
The granting of an abatement and/or exemption or tax agreement shall be recorded and made a permanent part of the official tax records of the taxing district, which record shall contain a notice of the termination date thereof.
[Added 9-14-2020 by Ord. No. 2020-20]
The abatement and/or exemption of real property taxes provided hereunder shall apply to property taxes levied for municipal purposes, school purposes and county government purposes.
[Added 9-14-2020 by Ord. No. 2020-20]
Pursuant to N.J.S.A. 40A:21-4, no applications for exemptions or abatements shall be filed that would take initial effect in the 11th tax year or any tax year thereafter occurring following the adoption of this section, unless the Township Committee readopts the Five-Year Tax Exemption and Abatement Program.