New Building Ordinance Regarding Assessed Home Value

Posted by hctax on January 19, 2011 · Leave a Comment

This Ordinance changes the value of what is used to determine substantial improvement or substantial damage to a home. Harvey Cedars currently uses the assessed value, but now it will be the replacement value. This is in line with FEMA guidelines and is similar to an ordinance adopted in Beach Haven. Below is the ordinance, but to follow are the old definitions for more clarity.

ORDINANCE NO. 2010-23

AN ORDINANCE AMENDING CHAPTER 12 OF THE REVISED GENERAL ORDINANCES OF THE BOROUGH OF HARVEY CEDARS, 1975, ENTITLED “BUILDING AND HOUSING”

BE IT ORDAINED BY THE BOARD OF THE COMMISSIONERS OF THE BOROUGH OF HARVEY CEDARS, as follows:

Section 1. Section 12-8.4 entitled “Definitions” is hereby amended by substituting “assessed valued” with “replacement value” in the definitions of Substantial Damage and Substantial improvement.

Section 2. Section 12-8.11 entitled “Lot Elevation Below Borough Street Profile – Building Permits” is hereby amended by substituting “assessed valued” with “replacement value” in all references.

Section 3. Section 12-10.1 entitled “Installation Required” is hereby amended by substituting “assessed valued” with “replacement value”.

Section 4. If any provision, section, subsection, or paragraph of this Ordinance shall be declared unconstitutional, invalid, or inoperative, in whole or in part, by a Court of competent jurisdiction, such provision, section, subsection, or paragraph shall, to the extent that it is not unconstitutional, invalid or inoperative, remain in full force and effect, and no such determination shall be deemed to invalidate the remaining provisions, subsections, or paragraphs of this Ordinance.

Section 5. This Ordinance shall take effect immediately upon its final passage and publication as required by law.

Substantial Damage- shall mean damage of any origin sustained by a structure whereby the cost of restoring the structure to its before damaged condition would equal or exceed 50 percent of the assessed value of the structure before the damage occurred.

Substantial Improvement- shall mean any, reconstruction, rehabilitation, addition, or other improvement of a structure, the cost of which exceeds 50 percent of the assessed value of the structure before the start of construction of the improvement. This term includes structures which have incurred substantial damage, regardless of the actual repair work performed.

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