Tax Abatement and Exemption Program

The City of Perth Amboy participates in the Chapter 104 Tax Exemption Program. This law permits exemption from taxation for five years of improvements to one and two unit dwellings, including condominium and horizontal property regime units.

This provides property owners with an opportunity to upgrade their residential properties through modernization or enlargement, without paying additional real estate taxes to those assessable improvements whose value does not exceed the limit set by the municipality.

The tax exemption stays with the property for 5 years regardless of revaluation, sale or death of the owner.

To qualify the building must be at least 20 years old. An application must be filed in the Assessor's office within 30 days of completion of the renovations. Applicable building permit and certificate of occupancy requirements must be observed

A similar program is available for commercial property owners. Five (5) year tax abatement is given to commercial property owners for any improvements and or enlargements on commercial structures in the City. The added assessed value is attached to the property in 20% intervals over a five year period with the new assessed being fully taxed at the end of the 5-year abatement.

Applications are available in the Assessor's Office.