[HISTORY: Adopted by the Mayor and Council of the Borough of Folsom as indicated in article histories. Amendments noted where applicable.]
Article I Exemption for Personal Property
Article II Senior Citizen and Disabled Tax Exemption
[Adopted 2-3-1961 by Ord. No. 51]
All tangible household personal property and personal effects located within the Borough of Folsom shall not be assessed and taxed.
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, and 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 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1, 1962, together with such interest and penalties as would have accrued thereon under any provisions of law amended or repealed hereby; nor shall this article invalidate any assessments or affect any proceedings for the enforcement thereof pending upon the effective date of this article or upon January 1, 1962, or during the period between said dates.
A certified copy of this article shall be filed with the Division of Taxation in the Department of the Treasury of the State of New Jersey, and with the county.
[Adopted 7-6-1961 by Ord. No. 52; amended in its entirety at time of adoption of Code (see Ch. 1, General Provisions, Art. I)]
Every person who is a citizen and resident of the State of New Jersey for a period of one year immediately preceding October 1 of the pretax year, of the age of 65 or more years, or, if not 65 or more years of age, is permanently and totally disabled, as defined in N.J.S.A. 54:4-8.40, having an income not in excess of $10,000 per annum and residing in a dwelling house owned by him which is a constituent part of his real property shall be entitled, on proper claim being made and allowed therefor, to exemption from taxation on such real property to an assessed valuation not exceeding $250 in the aggregate, but no such exemption shall be in addition to any other exemption to which said person may be entitled.
The financial position of the Borough of Folsom will not be impaired by the exemption so claimed.
The exemption claimed and to be allowed shall operate to reduce the taxable valuation of real property in the Borough.
All applications for exemption under this article may be filed on or before November 1 of the pretax year. Such applications shall be on forms prescribed by the Director, Division of Taxation, in the Department of the Treasury of the State of New Jersey.