§246-39.1  Claim for exemption.  (a) Notwithstanding any provision in this chapter to the contrary, any realproperty exempt from property taxes under section 246-39 shall be exempt fromproperty taxes from the date the property is qualified for the exemption;provided that a claim for exemption is filed with the assessor within sixtydays of the qualification.  As used herein, the date of the qualification shallbe the date when the mortgage made by a nonprofit or limited distributionmortgagor and insured under sections 202, 221(d)(3), or 236 of the NationalHousing Act is filed for recording with the registrar of the bureau ofconveyances or the assistant registrar of the land court of the State,whichever is applicable; provided that in the case of a mortgage made by anonprofit or limited distribution mortgagor and filed or recorded with theregistrar of the bureau of conveyances or the assistant registrar of the landcourt of the State prior to July 1, 1972, the date of qualification shallbe July 1, 1972.

(b)  After the initial year of thequalification, the claim for exemption shall be filed in the manner provided byapplicable law or rule or regulation.

(c)  In the event property taxes have been paidto the State in advance for real property subsequently becoming qualified forthe exemption, the director of taxation shall refund to the nonprofit orlimited distribution mortgagor owning the property that portion of the taxesattributable to and paid for the period after the qualification. [L 1968, c 32,§2; am L 1972, c 200, §7]

 

Revision Note

 

  "July 1,1972" substituted for "the effective date of this Act".