[HISTORY: Adopted by the Mayor and Council
of the Borough of Bradley Beach as indicated in article histories.
Amendments noted where applicable.]
[Adopted by Ord. No. 1996-06 (Secs. 2-61 and 2-62 of the 1974
Code)]
[1]
Note: This article shall not apply to newly
constructed dwellings.
The Legislature has determined that various
statutes authorized by the New Jersey Constitution, Art. 8, Sec. 1,
par. 6, permitting municipalities to grant, for periods of up to five
years, exemptions from taxation in areas in need of rehabilitation,
have proven to be effective in prompting construction and rehabilitation
of residential and commercial structures. The Legislature adopted
Chapter 441 of the Laws of 1991 (N.J.S.A. 40A:21-1 et seq.) so as
to consolidate and make more coherent the most useful features of
such statutes. Chapter 441 provides that the governing body may utilize
these laws in order to reverse and to prevent trends towards deterioration.
It is the opinion of the governing body that the entire Borough is
an area in need of rehabilitation as set forth in the statute and
that the governing body believes that by exempting for a limited period
improvements from taxation, owners and investors would be encouraged
to rehabilitate properties in the Borough. The governing body does
hereby grant tax exemptions set forth herein.
As used in this article, terms shall be defined
as in N.J.S.A. 40A:21-3.
Dwellings, multiple dwellings, commercial, or
industrial structures. In determining the value of real property,
the Borough shall regard the maximum dollar amount allowable under
N.J.S.A. 40A:21-5 in the Assessor's full and true value of improvements
for each dwelling unit, primarily and directly affected by the improvement
in any dwelling more than 20 years old, 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 the property
shall not be less than the assessment thereon existing immediately
prior to the improvements unless there is damage to the dwelling sufficient
to warrant a reduction.
The Assessor shall determine, on October 1 of
the year following the date of completion of an improvement, the true
taxable value thereof. The amount of tax to be paid for the first
full tax year following completion shall be based on the assessed
valuation of the property for the previous year, plus any portion
of the assessed valuation of the improvement, conversion, or construction
not allowed an exemption pursuant to this act. The property shall
be treated in the appropriate manner for five tax years.
An additional improvement completed on a property
granted a previous exemption during the period in which the previous
exemption is in effect shall be qualified for an exemption as if such
property had not received a previous exemption. The additional improvement
shall be considered as separate for the purposes of calculating the
exemption, except that the assessed value of any previous improvement
shall be added to the assessed valuation as it was prior to that improvement
for the purpose of determining the assessed valuation of the property
from which any additional abatement is to be subtracted.
[Amended 5-13-2014 by Ord. No. 2014-12]
A.
No exemption or abatement shall be granted with respect to any property
for which property taxes or sewer bills are delinquent or remain unpaid
or for which penalties for nonpayment of taxes are due.
B.
In accordance with N.J.S.A. 54:5-54, the Tax Collector shall provide
to any party entitled to redeem a certificate pursuant to the section
(N.J.S.A. 54:5-54) two calculations of the amount required for redemption
within a calendar year at no cost. For each subsequent calculation
requested from the Tax Collector, there shall be a fee of $50. A request
for a redemption calculation shall be made, in writing, to the Tax
Collector.
C.
In accordance with N.J.S.A. 54:5-97.1, the Tax Collector may charge
the lienholder of the tax lien a fee of $50 for the calculation of
the amount due to redeem the tax lien as required pursuant to N.J.S.A.
54:5-97.1. Any request for a redemption calculation shall specify
the date to be used for the calculation, which shall be date of the
notice. Neither the Tax Collector nor the municipality shall be liable
for an incorrect calculation. The fee paid to the municipality shall
not become part of the lien and shall not be passed on to any party
entitled to redeem pursuant to N.J.S.A. 54:5-54.
No exemption shall be granted except upon written
application on a form prescribed by the Division of Taxation in the
Department of Treasury and shall be filed with the Assessor within
30 calendar days following the completion of the improvement. The
granting of an exemption must be approved by the Assessor and shall
be made a permanent part of the official tax records and shall contain
a notice of termination date thereof.
The exemption of real property taxes shall apply
to property taxes levied for municipal, school, and county government
purposes and for the purposes of funding any other property tax exemptions.
The Tax Assessor shall report, on or before
September 1 of each year, to the Mayor and Council as to the total
amount of real property taxes exempted and the total amount abated
within the Borough in the current tax year under this article.
No exemption or abatement granted by the prior
ordinance or law shall be affected or terminated by this article,
but shall remain in effect for the time and under the terms granted
as if the article had not been superseded or repealed. This article
shall take effect immediately upon final adoption and publication
according to law. The exemptions of abatement under this article shall
not be effective or granted for projects or improvements upon which
a building permit has been issued or construction commenced prior
to the effective date of this article.
