[HISTORY: Adopted by the Mayor and Council of the Borough of Dumont as indicated in article histories. Amendments noted where applicable.]
Article I Tangible Personal Property Exemption
[Adopted by Ord. No. 637 (Secs. 8-15 through 8-16 of the 1970 Revised Ordinances)]
All tangible household property and personal effects located in the Borough shall be exempt from assessment and taxation for local use.
This article shall apply to taxes on tangible household personal property and personal effects due and payable in the year 1962 and thereafter, so long as this article shall be in effect.
This article shall not affect the obligation, lien or duty to pay any taxes, interest or penalties which have accrued or may accrue by virtue of any assessment made or which may be made with respect to taxes levied for any year prior to the year 1962, nor shall this article affect the legal authority to assess and collect taxes which may be or have been due and payable prior to January 1, 1962, together with such interest and penalties as would have accrued thereon under any provisions of law amended or repealed hereby.
This article shall not invalidate any assessments or affect any proceedings for the enforcement thereof pending on or before January 1, 1962.