TOMS RIVER, NJ – Township officials have refunded first and second-quarter taxes to a homeowner on Vincenzo Drive that the state of New Jersey has since exempted.
Owned by Zidichoiv, Bais HOYC of Brooklyn, NY, the spacious 5,374 square foot home on one acre is now exempt from paying its annual taxes of $17,638.95.
On Wednesday, the township council voted to approve a refund of $9,357.48.
In New Jersey, specific religious organizations, schools, and charitable entities (referred to as “Eligible Entities”) can benefit from real property tax exemptions. To initiate this process, an Eligible Entity must submit an Initial Statement Claiming Property Tax Exemption, referred to as the “Application,” to the local tax assessor of their respective taxing district. The Application deadline is November 1st of the pre-tax year. Once approved, the Eligible Entity must renew its application every third year by the same November 1st deadline.
Township officials had placed a taax sale certificate on the home after the property owner did not pay taxes in 2020. That tax sale certificate remains valid, but the township, under state law cannot collect further taxes from the property owner as of the date of approved state exemption.