[Adopted 11-15-1993 by Ord. No. 28-1993[1]]
[1]
Editor's Note: Ordinance No. 36-2003, adopted
11-17-2003, provided for the readoption and reaffirmation of the tax
abatement program contained in this article. Said program shall continue
to be available to those property owners and projects that are eligible
according to the requirements specified in this article and state
law.
[Amended 11-2-2009 by Ord. No. 38-2009]
Pursuant to N.J.S.A. 40A:21-1, residential tax
exemptions shall be granted throughout the municipality for 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 the improvement
in any dwelling more than 20 years old, as not increasing 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, 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 dwelling
through action of the elements sufficient to warrant a reduction.
The City Council of the City of Pleasantville
may enter into agreements with developers for tax exemption and abatement
on commercial and industrial improvements and/or construction projects
and condominium construction projects pursuant to the provisions of
N.J.S.A. 40A:21-1 providing for the exemption from real property taxation
of improvements and the abatement of real property taxation on projects
for a period of five years, subject to the following procedures which
shall govern agreements for tax exemptions and tax abatements entered
into by the Council and developer:
A.
Improvements.
(1)
All improvements as defined in N.J.S.A. 40A:21-1 et
seq. shall be exempt from local property taxes if approved by the
Tax Assessor after proper application has been made. Application shall
be in accordance with N.J.S.A. 40A:21-1 et seq. and shall be on forms
prescribed by the Director of the Division of Taxation in the Department
of the Treasury and subject to the standards promulgated by the Commissioner
of the Department of Community Affairs.
(2)
With reference to improvements, in determining the
value of real property, the City of Pleasantville shall regard up
to the Assessor's full and true value of the improvements as not increasing
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, 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.
(3)
Applicants shall be encouraged to apply for tax exemptions
on improvements prior to the commencement of construction of the improvements;
however, the application must be filed with the Pleasantville Tax
Assessor within 30 days, including Saturdays and Sundays, following
the completion of the improvement, conversion, alteration or construction
in order to be eligible for tax exemption thereon.
(4)
Every properly completed application for exemption
which is filed within 30 days, including Saturdays and Sundays, following
the completion of the improvement shall be approved and allowed by
the Assessor to the degree that the application is consistent with
the provisions of this article and/or the tax agreement, provided
that the improvement for which the application is made qualifies as
an improvement pursuant to N.J.S.A. 40A:21-1 et seq. and the tax agreement,
if any.
B.
Construction projects.
(1)
Applicants for tax abatement on construction projects
shall make application to the City Council of the City of Pleasantville
and shall provide the Council with an application setting forth:
(a)
A general description of the construction project
for which abatement is sought.
(b)
A legal description of all real estate necessary
for the construction project.
(c)
Plans, drawings and other documents as may be
required by the governing body to demonstrate the structure and design
of the construction project.
(d)
A description of the number, classes and type
of employees to be employed at the construction project site within
two years of the completion of the construction project.
(e)
A statement of the reasons for seeking tax abatement
on the construction 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 construction
project.
(g)
A statement showing:
[1]
The real property taxes currently being assessed
at the construction project site.
[2]
Estimated tax payments that would be made annually
by the applicant on the construction project during the period of
the agreement.
[3]
Estimated tax payments that would be made by
the applicant on the construction project during the first full year
following the termination of the tax agreement.
(h)
A description of any lease agreements between
the applicant and proposed users of the construction project and a
history and description of the user's businesses.
(i)
If the construction project is a multiple dwelling,
a description of the number and types of dwelling units to be provided,
a description of the common elements or general common elements and
a statement of the proposed initial rentals or sales prices of the
dwelling units according to the type and of any rental lease or resale
restrictions to apply to the dwellings units respecting low- or moderate-income
housing.
(j)
Such other pertinent information as the governing
body may require.
(2)
Upon adoption of an ordinance authorizing a tax agreement
for a particular construction project, the governing body may enter
into a written agreement with the applicant for the abatement of local
real property taxes, provided that the projects construction costs
exceed the sum of $300,000 and the applicant meets the statutory criteria
and the requirements specified herein. The agreement shall provide
for the applicant to pay to the municipality in lieu of full property
tax payments an amount annually to be computed in accordance with
N.J.S.A. 40A:21-10C, providing for tax phase-in pursuant to said Subsection
C for a period of five years.
(3)
If during any tax year prior to the termination of
the tax agreement, the property owner ceases to operate or disposes
of the property, or fails to meet the conditions for qualifying, then
the tax which would have otherwise been payable for each tax year
shall become due and payable from the property owner as if no abatement
had been granted. The City Council shall notify the property owner
and Tax Collector forthwith, and the Tax Collector shall, within 15
days thereof, notify the owner of the property of the amount of taxes
due. However, with respect to the disposal of the property, where
it is determined that the new owner of the property will continue
to use the property pursuant to the conditions which qualify the property,
no tax shall be due, the abatement shall continue and the agreement
shall remain in effect.
(4)
No abatement shall be granted, or tax agreement entered
into, pursuant to this article with respect to any property for which
property taxes are delinquent or remain unpaid, or for which penalties
for nonpayment of taxes are due.
