Permits short-term tax exemption for certain improvements to dwellings damaged by natural disasters.
Take action
Record your position on this measure.
Create an account to record your position, submit testimony, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill would allow New Jersey municipalities to offer a short-term property tax exemption for improvements made to homes damaged by natural disasters. To qualify, a municipality must designate an ‘area in need of rehabilitation,’ which could be based on factors like deteriorated housing stock, vacancy rates, or environmental issues. The ordinance would require assessors to account for increased property values resulting from elevation improvements, and could provide for a reduction in the exemption amount over time. The bill also clarifies how property assessments should be handled during the exemption period.
Bill text
Read the latest version inline or switch to a previous version.
Document of record
- Version
- Introduced
- Published
- Not published in the source record
This version is published only as a document. Open the viewer to read it here, or download the file.
Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsors
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours