Improvements Will Help Protect Against Criminal Activity
TURNERSVILLE, NJ – The Senate Community and Urban Affairs Committee today passed S-324 – legislation sponsored by Senator Fred Madden which would allow the owner of a commercial, industrial or apartment property to apply for an exemption from taxation on the value added from any new security enhancements made to the property.
“This legislation provides incentives for property owners to make necessary security enhancements,” Madden (D-Gloucester, Camden). “The changes will help prevent criminal activities from occurring on the property grounds.”
The bill defines a “security enhancement” as any new capital improvement made to a building or structure listed as commercial, industrial, or apartment property in the form of any structural alteration for the purpose of protecting the property against theft, breaking and entry, vandalism or any other criminal activity on property grounds. The exemption must be certified by the local enforcement agency and could be revoked due to a finding of fraud, misrepresentation, or when the security enhancement has ceased to be used for the primary purpose certified.
The measure was released from committee by a unanimous vote and now heads to the full Senate for consideration.
The Fourth Legislative District includes the towns of Clementon, Laurel Springs, Lindenwold, Gloucester Township, Franklin Township, Glassboro, Monroe Township, Newfield, Pitman and Washington Township.