[Adopted 1-23-1992 by Ord. No. MC-2730 (Ch. 510, Art. III,
of the 1987 Code)]
As used in this article, the following terms shall have the
meanings indicated:
An exemption from real property taxes provided for the purposes
of encouraging residential construction, conversion, improvement and
redevelopment pursuant to this article.
Substantially ready for the use for which it is intended
and its occupancy as a principal residence.
The modernization, rehabilitation, renovation, alteration
or repair of a structure that does not increase the volume of the
structure by more than 30%, pursuant to this article.
A municipality in which an urban enterprise zone or part
of an urban enterprise zone has been designated pursuant to the New
Jersey Urban Enterprise Zones Act, P.L. 1983, c. 303 (N.J.S.A. 52:27H-60
et seq.), and shall include the entire area within the corporate boundaries
of that municipality, whether or not that area is included within
an urban enterprise zone. For the purpose of this article, the City
of Camden is deemed to be a "qualified municipality."
Any building used or to be used or held for use as a home
or residence, including accessory buildings located on the same premises.
No building shall be considered a "qualified residential property"
if the certificate of occupancy for the construction, conversion,
rehabilitation or renovation was issued on or before the date falling
30 months prior to the effective date of this article.
In providing for tax abatements for improvements in areas in
the City of Camden, the City may authorize abatements for improvements
on an individual basis after review, evaluation and approval of each
application by the City of Camden. For applications requiring review
and approval by the City Council, the City of Camden may require the
applicant to submit such information as it deems appropriate, but
in no event shall the City require the submission of information more
detailed than that required for a tax abatement pursuant to N.J.S.A.
54:4-3.139 et seq.
All tax abatement agreements entered into by the City of Camden
pursuant to the terms of this article shall be in effect for a period
of not more than five years starting with the date of completion of
the project.
A.
The required payments shall be made in quarterly installments according
to the same schedule as real property taxes are due and payable. Failure
to make these payments shall result in the termination of the abatement.
In addition to the remedy set forth herein, the requirements imposed
shall be enforced in the same manner as is provided for real property
taxes pursuant to Title 54 of the Revised Statutes of the State of
New Jersey.
B.
In addition to the payments required in lieu of taxes, the owner
of a parcel of qualified property granted an abatement pursuant to
this article shall be liable for all real property taxes assessed
and levied against the land on which the qualified residential property
is situated.
No abatement shall be granted with respect to any property for
which property taxes are delinquent or remain unpaid or for which
penalties for nonpayment of taxes are due.
No abatement shall be granted except upon written application
filed with the Assessor of the City of Camden, and which is then made
and approved by City Council. Every application shall be on a form
prescribed by the Director of the Division of Taxation, in the Department
of the Treasury, and shall be filed with the Assessor within 30 days,
including Saturdays and Sundays, following the completion of the improvement
or conversion alteration or the effective date of this article, whichever
is later. Every application for an abatement which is filed within
the time specified may be approved and allowed by the Assessor to
the degree that the application is consistent with the provisions
of this article, provided that the property for which the application
is made constitutes qualified residential property pursuant to the
provisions of this article. An abatement that is granted shall take
effect upon the issuance of a certificate of occupancy to the owner
and it shall be recorded and made a permanent part of the official
tax records of the City of Camden, which record shall contain notice
of the termination date of the abatement.
The added assessment provisions of Section 3 of P.L. 1941, c.
397 (N.J.S.A. 54:4-63.3), and the omitted assessment provisions of
Section 9 of P.L. 1947, c. 413 (N.J.S.A. 54:4-63.20), and Section
1 of P.L. 1968, c. 184 (N.J.S.A. 54:4-63.31), shall not be applicable
to any property for which the owner-occupant has been granted a tax
abatement under this article.
A.
To be eligible for an abatement, a dwelling house shall be occupied by the owner thereof; if the requirements of this section are not satisfied the annual payment in lieu of taxes on the unit or dwelling house shall be increased by 1% above the amount otherwise chargeable under § 753-16 of this article.
B.
In the case of an abatement for the conversion of a building or structure
to qualified residential property, the building or structure so converted
may include, but need not be limited to, commercial or industrial
buildings or structures or underutilized school buildings.
When an urban redevelopment project, approved pursuant to Section
19 of P.L. 1961, c. 40 (N.J.S.A. 40:55C-58), includes the construction
of qualified residential property within the City of Camden, the urban
renewal corporation or association carrying out the project may, upon
completion of that qualified residential property, make application
for tax abatements under this article on behalf of prospective purchasers
of dwelling units, whether the units are owner-occupied or investor
owned.
A.
Applicants should set forth in their applications the following:
(1)
The designated block and lot numbers as they appear on the Official
Tax Map of the City for the project.
(2)
Whether the abatement being sought is for a new structure or rehabilitation
of an existing structure.
(3)
Date of completion.
(4)
Total cost of the project.
(5)
Whether or not there were any prior and/or current abatements and/or
exemptions for the subject property.
(6)
Whether the claimant is or is not an urban renewal corporation or
association sponsor.
(7)
Whether the structure is a dwelling house.
(8)
Whether the claimant is or is not the occupant of the premises with
respect to which the claim is made.
(9)
A request for the five-year phase-in abatement.
(10)
Such other pertinent information as the City Council may require.
B.
Upon review and evaluation of the Director of Economic Development,
each application will be submitted to the City Council.
A.
Approval for each project will be by ordinance authorizing an agreement
for a tax abatement pursuant to N.J.S.A. 54:4-3.139, authorizing the
City of Camden to enter into a written agreement with the applicant
for the abatement of local real property taxes. The agreement shall
provide for the applicant to pay to the City of Camden, in lieu of
full property tax payment, an amount annually to be computed by the
following formula. Tax phase in: the agreement shall provide for the
applicant to pay to the City of Camden, in lieu of full property tax
payments, an amount equal to a percentage of taxes otherwise due,
according to the following schedule:
[Amended 3-12-1992 by Ord. No. MC-2746]
(1)
In the first full calendar tax year after completion: no payment
in lieu of taxes otherwise due.
(2)
In the second tax year following completion: an amount not less than
20% of taxes otherwise due.
(3)
In the third tax year following completion: an amount not less than
40% of taxes otherwise due.
(4)
In the fourth tax year following completion: an amount not less than
60% of taxes otherwise due.
(5)
In the fifth tax year following completion: an amount not less than
80% of taxes otherwise due.
(6)
In the sixth tax year and all subsequent tax years following completion:
100% of taxes otherwise due.
B.
For the purposes of this section, the amount of taxes otherwise due
shall be determined by including the appropriate percentage of the
assessed valuation of the abated structure, improvement or conversion
alteration, as the case may be, on the assessment list of the City
of Camden as taxable property and levying taxes thereon in the same
manner as other taxes are levied pursuant to Chapter 4 of Title 54
of the Revised Statutes of the State of New Jersey; provided, however,
that no value for a property subject to the provisions of this article
shall be included in the calculation of the net valuation on which
county taxes are apportioned until the sixth, 11th or 16th year, as
appropriate.
