# N.J. Stat. § 40A:21-6.1: Adoption of ordinance granting abatement, exemption from taxation for certain improvements to residential properties

> New Jersey · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-6.1

## Section

- **Citation:** N.J. Stat. § 40A:21-6.1
- **Heading:** Adoption of ordinance granting abatement, exemption from taxation for certain improvements to residential properties
- **Jurisdiction:** New Jersey
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** NJ Code / Title 40A / Chapter 21 / Section 21-6.1

## Text

2. A municipality may adopt an ordinance granting an abatement or exemption from taxation for improvements to a residential property resulting from a renovation housing project, as defined under subsection c. of section 14 of P.L.1992, c.79 (C.40A:12A-14) (as amended by section 1 of P.L.2007, c.90). The ordinance shall require that, in determining the value of real property, the municipality shall regard up to and including the assessor's full and true value of the improvements as not increasing the taxable value of the property for a period of five years, notwithstanding that the market 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 immediately prior to the conflagration affecting the value of the property, unless there is damage to the structure through action of the elements sufficient to warrant a reduction. The ordinance may provide for a reduction of the abatement or exemption for each year of the exemption period. L.2007, c.90, s.2.

## Nearby sections

- [N.J. Stat. § 40A:21-1 Short title](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-1.md)
- [N.J. Stat. § 40A:21-2 Findings, purpose](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-2.md)
- [N.J. Stat. § 40A:21-3 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-3.md)
- [N.J. Stat. § 40A:21-4 Municipal ordinance granting exemptions or abatements.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-4.md)
- [N.J. Stat. § 40A:21-5 Limits on exemptions on abatements for dwellings](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-5.md)
- [N.J. Stat. § 40A:21-6 Limits on exemptions or abatements for multiple dwellings](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-6.md)
- [N.J. Stat. § 40A:21-6.1 Adoption of ordinance granting abatement, exemption from taxation for certain improvements to residential properties.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-6.1.md)
- [N.J. Stat. § 40A:21-6.2 Tax exemption, abatement for certain housing improvements to accommodate certain disabled persons.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-6.2.md)
- [N.J. Stat. § 40A:21-7 Limits on exemptions for commercial, industrial structures](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-7.md)
- [N.J. Stat. § 40A:21-8 Tax agreements for construction of commercial, industrial structures or multiple dwellings](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-8.md)
- [N.J. Stat. § 40A:21-9 Applications for tax agreements, requirements](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-9.md)
- [N.J. Stat. § 40A:21-10 Formula for payments under tax agreements.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-10.md)
- [N.J. Stat. § 40A:21-11 Tax agreements, duration, other law, valuation of ratables, copy to DCA.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-11.md)
- [N.J. Stat. § 40A:21-12 Failure of conditions, full taxes due, termination](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-12.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_NJ_T40A_C21_S21-6.1. Check the current official text before relying on it. Not legal advice.