[HISTORY: Adopted by the Township Council of the Township of West Milford as indicated in article histories. Amendments noted where applicable.]
[Adopted 11-3-2021 by Ord. No. 2021-037]
All terms utilized in this article not specifically defined herein shall conform to the meanings set forth in the Five-Year Exemption and Abatement Law (“Act”). For ease of reference, the definitions set forth in the Act as of the date of the adoption of this article are attached hereto as Exhibit A.[1] However, if the definitions set forth in the Act shall be subsequently amended, then the Act, and not Exhibit A, shall control.
[1]
Editor's Note: Said exhibit is on file in the Township offices.
The Township hereby determines to utilize the authority granted under Article VIII, Section I, Paragraph 6 of the New Jersey Constitution to establish the eligibility of certain dwellings for exemptions, as provided in this article and as permitted by the Act, throughout West Milford’s Rehabilitation Areas.
The Township hereby determines to provide for the exemption from taxation of certain improvements to existing residential properties occurring within Rehabilitation Areas throughout the Township. To the extent that a property owner shall apply to the Tax Assessor within the time period prescribed by the New Jersey Department of Treasury in accordance with the Act, which currently requires submission within 30 calendar days following completion of the improvements or construction for which the exemption is sought, and shall provide documentation to the Tax Assessor, in a form and manner acceptable to the Tax Assessor and consistent with the Act, of compliance with this section, such property owner shall be entitled to the relevant exemption enumerated herein without any need for action by the Township Council.
The Township hereby determines to provide for the exemption from taxation of certain improvements made to dwellings, on the following terms and conditions:
A. 
The term "dwelling," for purposes of this article, shall include residential properties and condominium residential units, but not cooperative (“co-op”) type residential properties.
B. 
The term "dwelling," for purposes of this article, shall not include "multiple dwellings," as defined by the Act.
C. 
Only residential properties shall be eligible for the benefit of the tax abatement under this article.
D. 
An applicant must continue to live at the property to continue to receive the benefit of the tax abatement.
E. 
The term "improvements," for purposes of this subsection, shall include rehabilitation, to include modernization, renovation, alteration or repair which produces a physical change in an existing building or structure, which improves the safety, sanitation, decency or attractiveness of the structure as a place for human habitation, and which does not change its permitted use.
F. 
To the extent that a dwelling shall comply with the requirements set forth at Subsections A through E, above, in determining the value of real property for each dwelling unit, the Township shall regard the first $15,000 in the Assessor's full and true value of improvements for each dwelling unit primarily and directly affected by 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 any property pursuant to this subsection shall not be less than the assessment thereon existing immediately prior to the improvements, except if there is damage to the dwelling through action of the elements sufficient to warrant a reduction.
G. 
The Five-Year Tax Abatement Program for West Milford Rehabilitation Areas” shall be effective January 1, 2022, and applications shall only be accepted in the 2022 calendar year.
A. 
The Township hereby determines to provide for an exemption of 100% of the Assessor's full and true value for a period of five years following the construction of improvements to multiple dwellings. The term "multiple dwelling" shall have that meaning ascribed to it by the Act. The definition of "multiple dwelling" set forth in the Act as of the date of adoption of this article is set forth at Exhibit A, attached hereto.[1]
[1]
Editor's Note: Said exhibit is on file in the Township offices.
B. 
This exemption is to be granted notwithstanding that the value of the property upon which the construction occurs is increased thereby. During the exemption period, the assessment on any property pursuant to this article shall not be less than the assessment thereon existing immediately prior to the improvements, except if there is damage to the multiple dwelling through action of the elements sufficient to warrant a reduction.
Upon final passage and publication as provided by law, this article shall take effect upon final passage, approval and publication as required by law and shall authorize the Township to grant exemptions up to a five-year period.