New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 33 - TAX COLLECTION ADMINISTRATION › Subchapter 3 - TENANTS' PROPERTY TAX REBATE PROGRAM › Section 5:33-3.2 - Definitions

Current through Register Vol. 56, No. 14, July 15, 2024
The following words and terms used in this subchapter shall have
				  the following meanings, unless the context clearly indicates otherwise:
"Act" means the Tenants' Property Tax Rebate Act,
				  54:4-6.2 et seq.
"Amount to be rebated" means the total of the property tax
				  reduction plus any property tax credit applied to the property through the Regional
				  Efficiency Aid Program or through a local miscellaneous revenue credit.
"Assessment reduction" means a decrease in the amount of assessed
				  value of qualified real rental property resulting from:
1. An agreement between an owner of qualified
				property and a municipal taxing authority;
2. An abatement, exemption, or change in
				assessment imposed administratively by a municipal tax assessor or county board of
				taxation; or
3. A judgment entered by a
				county board of taxation, the tax court, or another court of competent jurisdiction.
"Base year" means calendar year 1998. If any of the following
				  events occur, "base year" shall then mean:
1. Any calendar year after 1998 in which property
				taxes levied for qualified real rental property exceed the property taxes levied for
				1998 for that property;
2. The first
				calendar year after 1998 during which qualified real rental property is first
				offered for rent or lease;
3. The first
				full calendar year after 1998 in which qualified real rental property is no longer
				subject to a tax exemption or tax abatement program;
4. A calendar year subsequent to 1998 for which
				the property tax calculation reflects an assessment reduction from the prior base
				year assessment; or
5. A calendar year
				subsequent to 1998 in which the property taxes paid in the base year and the
				property taxes paid in the current year do not reflect consistent budgetary and tax
				item components because sewer, solid waste or similar services provided through a
				taxing entity budget and reflected in the tax rate are changed to a separately
				billed user fee.
"Current year" means the calendar year in which a property tax
				  reduction is realized and rebates are calculated.
"Director" means the Director of the Division of Local Government
				  Services in the Department of Community Affairs.
"Local agency" or "local enforcement agency" means the municipal
				  rent leveling board, where one exists, or the tax collector where one does
				  not.
"Local miscellaneous revenue credit" means a property tax
				  reduction provided through a property tax credit applied to a property tax bill
				  pursuant to 40A:4-27.3.
"MOD IV" means the New Jersey Property Tax System administered by
				  the State Division of Taxation. It is mandated for use by every municipal assessor,
				  authorized for use by private data centers serving municipalities, and designed for
				  use by tax collectors in preparing tax bills and Notices of Tax Reduction.
"Notice of Tax Reduction," "Tax Reduction Notice," or "Notice"
				  means the document tax collectors send to owners whose taxes in the current year are
				  lower than those in the base year, or who have received a Regional Efficiency Aid
				  Program property tax credit, or where the municipality has provided a local
				  miscellaneous revenue credit. It includes the base year and current tax and the
				  property tax reduction amount as computed by the MOD IV system, any REAP property
				  tax credit, any local miscellaneous revenue credit, a plain language summary of the
				  law and rules, and an owner's rent rebate certificate.
"Owner" means a person who owns qualified property.
"Property tax reduction" means the difference, between property
				  taxes paid or payable on any qualified property in the base year, and the lower
				  taxes paid or payable in the current year, except that such calculation shall be
				  exclusive of any property tax credit applied to the property through the Regional
				  Efficiency Aid Program or through a local miscellaneous revenue credit.
"Qualified property" or "qualified real rental property" means any
				  building or structure, or complex of buildings and structures, in which five or more
				  housing units are rented or leased or offered for rent or lease for residential
				  purposes, except:
1. Hotels, motels, and
				other guesthouses serving transient or seasonal guests;
2. Buildings or structures which are subject to an
				abatement agreement under which reduced or no property taxes are paid on the
				improvements pursuant to statute, notwithstanding that payments in lieu of taxes are
				paid in accordance with the agreement;
3. Buildings or structures located in
				municipalities in which a rent control ordinance that:
i. Does not provide for an automatic increase in
				the amount of rent permitted to be charged by a property owner upon an increase in
				the amount of property tax levied upon the property is in effect for the base year
				and the current year; or
ii. Provides
				for both an automatic increase and decrease in the amount of rent permitted to be
				charged by a property owner upon a change in the amount of the total property tax
				levied on a parcel, which total shall include the effect of any local miscellaneous
				revenue credit or REAP credit;