Sponsored by:
Senator PATRICK J. DIEGNAN, JR.
District 18 (Middlesex)
SYNOPSIS
Requires taxpayer to provide certificate of merit setting forth estimated true value of certain property which is subject to county tax appeal.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning appeals by a taxpayer and amending R.S.54:3-22.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. R.S.54:3-22 is amended to read as follows:
54:3-22. a. (1) The board shall thereupon make such order respecting the time and manner for hearing the appeal as it may deem just, and shall summarily hear and determine the appeal, and revise and correct the assessment in accordance with the value prescribed by law. All appeals filed pursuant to the provisions of chapter 3 of Title 54 of the Revised Statutes shall be heard and determined by the board. It may compel the attendance of witnesses, the production of books and papers before it, examine witnesses or cause witnesses to be examined under oath before it, which oath may be administered by a member of the board.
(2) In the case of an appeal of the assessed valuation of commercial or industrial property with a county tax board, within 10 days of filing a petition of appeal with the board, the taxpayer shall provide the board with a certificate of merit, prepared by a State licensed or certified real estate appraiser, which sets forth the appraiser’s estimation of the true value of the property that is subject to the appeal.
b. In any proceedings before the board where deeds or other instruments of conveyance do not state the true consideration or sale price of the property, which is the subject of appeal, the realty transfer fee paid upon the recording of such deeds or instruments as well as an affidavit of consideration attached to and filed with any such deed or instrument shall be admitted as prima facie evidence of the actual amount of money and the monetary value of any other thing of value constituting the entire compensation paid for such transfer of realty.
c. Whenever the county board of taxation is satisfied by the proofs that the ratio of the assessed valuation of the subject property to its true value exceeds the upper limit or falls below the lower limit of the common level range, it shall revise the taxable value of the property by applying the average ratio to the true value of the property except as hereinafter provided.
d. If the average ratio is below the county percentage level and the ratio of the assessed value of the subject property to its true value exceeds the county percentage level, the county board of taxation shall reduce the taxable value of the property by applying the average ratio to the true value of the property.
e. If both the average ratio and the ratio of the assessed value of the subject property to its true value exceed the county percentage level, the county board of taxation shall revise the taxable value of the property by applying the county percentage level to the true value of the property.
f. The provisions of this section shall not apply to any appeal from an assessment of real property taken with respect to the tax year in which the taxing district shall have completed and put into operation a district-wide revaluation program approved by the Director of Taxation pursuant to chapter 424, laws of 1971 (C.54:1-35.35 et seq.)
(cf: P.L.1973, c.123, s.3)
2. This act shall take effect immediately.
STATEMENT
This bill provides that, in the case of an appeal of the assessed valuation of commercial or industrial property with a county tax board, within 120 days of filing a petition of appeal with the board, the taxpayer shall provide the board with a certificate of merit, that has been prepared by a State licensed or certified real estate appraiser, which sets forth the appraiser’s estimation of the true value of the property that is subject to the appeal. The intent of this bill is to reduce the number of non-meritorious appeals by commercial and industrial property owners.