[Ord. No. 97-47]
[Ord. No. 97-47]
The dollar amount of exemption for taxation shall be $25,000
and in all further respects Ordinance No. 81-2 is hereby ratified
and affirmed.
[Ord. No. 96-55]
Pursuant to N.J.S.A. 40A:21-1 et seq. an exemption from taxation
of improvements to commercial and industrial structures in real estate
taxes is hereby authorized. The Tax Assessor's full and true value
of the improvements shall not increase the value of the property,
for a period of five years, notwithstanding that the value of the
property to which the improvements are made shall increase. During
the exemption period, the assessment on the property shall not be
less than the assessment existing immediately prior to the improvements
unless there is damage to the structure through action of the elements
sufficient to warrant a reduction.
[Ord. No. 96-55]
This exception or exceptions shall apply for all commercial
and industrial improvements.
