N.J.S.A. § 54:4-3.141.
Determination of need of rehabilitation; conversion or building of residential properties by municipal governing body
The governing body of a qualified municipality may, by ordinance, determine that one or more areas within the municipality are in need of rehabilitation, and that one or more buildings or structures in any such area could be advantageously converted to qualified residential property or that vacant land in any such area could be advantageously used for the construction of qualified residential property. Any such determination shall be made in keeping with regulations which shall be promulgated by the Commissioner of Community Affairs pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), which shall take into consideration the following: existence of blighted areas in the municipality; deterioration of housing stock; age of housing stock; supply of and demand for housing in the municipality; and arrearage in real property taxes due on residential properties.
L.1989, c.207, s.3.
Source: view the official text
In this chapter (40 sections)
- 54:4-3.113g · Rules, regulations
- 54:4-3.114. · Certified solar energy system
- 54:4-3.115. · Certification; application; inspection of premises
- 54:4-3.116. · Certification; qualifications; contents; filing;…
- 54:4-3.117. · Revocation; grounds
- 54:4-3.118. · Review; action of enforcing agency; action of assessor or…
- 54:4-3.119. · Amount of exemption; determination
- 54:4-3.120. · Rules and regulations
- 54:4-3.13. · Exemption of property of public fire patrol or salvage…
- 54:4-3.130. · Definitions
- 54:4-3.131. · Certified automatic fire suppression system; tax exemption
- 54:4-3.132. · Certification; application; inspection
- 54:4-3.133. · Certificate; issuance; contents; commencement of exemption
- 54:4-3.134. · Revocation
- 54:4-3.135. · Appeals from action of enforcing agency, director of…
- 54:4-3.136. · Amount of exemption from assessed valuation
- 54:4-3.137. · Rules and regulations
- 54:4-3.138. · Tax exemption
- 54:4-3.139. · Findings, determinations
- 54:4-3.140. · Definitions
- 54:4-3.141. · Determination of need of rehabilitation; conversion or…
- 54:4-3.142. · Abatements of real property taxes for qualified…
- 54:4-3.143. · Tax abatements for purchaser of residential property in…
- 54:4-3.144. · Application procedure for tax abatement
- 54:4-3.145 · Financial agreement; payments in lieu of taxes
- 54:4-3.146. · Annual administration fee payable by owner to municipality
- 54:4-3.147. · Payments to be made quarterly, failure to pay; penalty
- 54:4-3.148. · Liability of owner for real property taxes on land
- 54:4-3.149. · No abatement granted for properties on which taxes are…
- 54:4-3.15 · Exemption of property used by veterans who sustained a…
- 54:4-3.151. · Findings, declarations relative to contaminated real…
- 54:4-3.152. · Definitions
- 54:4-3.154. · Ordinance providing for tax exemptions
- 54:4-3.156. · Financial agreement evidencing approved exemption
- 54:4-3.158 · Remedial action workplan
- 54:4-3.159 · Real property acquired by Meadowlands Conservation Trust…
- 54:4-3.160 · Resolution to provide property tax exemption for medical…
- 54:4-3.161 · Tenant rebate to medical dental practice, administration
- 54:4-3.18. · Exemption of turnpikes
- 54:4-3.19. · Exemption of metals in transit