§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]



 



Revision Note



 



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