§246-39.1 Claim for exemption. (a) Notwithstanding any provision in this chapter to the contrary, any real property exempt from property taxes under section 246-39 shall be exempt from property taxes from the date the property is qualified for the exemption; provided that a claim for exemption is filed with the assessor within sixty days of the qualification. As used herein, the date of the qualification shall be the date when the mortgage made by a nonprofit or limited distribution mortgagor and insured under sections 202, 221(d)(3), or 236 of the National Housing Act is filed for recording with the registrar of the bureau of conveyances or the assistant registrar of the land court of the State, whichever is applicable; provided that in the case of a mortgage made by a nonprofit or limited distribution mortgagor and filed or recorded with the registrar of the bureau of conveyances or the assistant registrar of the land court of the State prior to July 1, 1972, the date of qualification shall be July 1, 1972.
(b) After the initial year of the qualification, the claim for exemption shall be filed in the manner provided by applicable law or rule or regulation.
(c) In the event property taxes have been paid to the State in advance for real property subsequently becoming qualified for the exemption, the director of taxation shall refund to the nonprofit or limited distribution mortgagor owning the property that portion of the taxes attributable to and paid for the period after the qualification. [L 1968, c 32, §2; am L 1972, c 200, §7]
"July 1, 1972" substituted for "the effective date of this Act".Section: Previous 246-34.5 246-34.7 246-35 246-36 246-37 246-38 246-39 246-39.1 246-40 246-41 246-42 246-43 246-44 246-45 246-46 Next
Last modified: October 27, 2016