Compliance Plan {CP}

COMPLIANCE PLAN N.J.S.A. 54:4 ­23 as amended by Chapter 101, Public Laws of 2001; Chapter 259, Public Laws of 2009 TO BE FILED WITH COUNTY BOARD OF TAXATION This form is to be used for filing compliance plans. Assessors must submit FORM CP to the County Tax Board. Filing deadline is November 15 of the pretax year for the tax year following. County_____________________ Taxing District _______________________Compliance Plan filed for tax year 20______ SECTION ­ GENERAL INFORMATION Compliance Plan to be completed and filed on or before November 15 of the pretax year for the tax year following. All values placed on property will be as of October 1 of the pretax year for the tax year following. 1. Year of Last Revaluation 2. Year of Last Reassessment Breakdown of line items by class Class 1 Class 4A Class 4B Class 4C 3. Director's October 1 Pretax Year Average Ratio 4. General Coefficient of Deviation (published October 1 pretax year) Class 2 Class 3A Class 3B 5. Total No. of line items for current tax year SECTION II ­ SPECIFIC INFORMATION 6. Total number of neighborhoods in municipality _______. 7. Total number of neighborhoods reviewed must be 100%. 8. Total number of neighborhoods changed ______ 9. List neighborhoods where assessments need adjustments in the chart below: ID No., General VCS, No. of Line Ratio Coefficient of No. of Sales Neighborhood Items In of Deviation of in etc. Neighborhood Neighborhood Neighborhood Neighborhood If other than current two year sampling period, specify time period Percent of Proposed Change in Total Valuation by Neighborhood ** If additional lines are needed, please attach another sheet to this application. SECTION III ­ CERTIFICATION AND ACKNOWLEDGMENT I hereby declare as tax assessor that the supporting data for the compliance plan on this report is accurate for the foregoing neighborhoods. _____________ _________________________ DATE MUNICIPAL ASSESSOR ***************************************************************************************************************************************** I attest that the _________________ County Board of Taxation at a meeting held on _______________, 20_____ has reviewed the proposed compliance plan and has (APPROVED/DENIED) it. ________________ DATE ______________________________ COUNTY TAX ADMINISTRATOR Form CP, Rev. 2010 This form is prescribed by the New Jersey Division of Taxation, as required by law, and may be reproduced for distribution, but may not be altered without prior approval. American LegalNet, Inc. www.FormsWorkFlow.com Chapter 101, P.L. 2001, Chapter 251, P.L. 251 AN ACT concerning reassessment, and amending R.S. 54:4-23. BE IT ENACTED by the Senate and the General Assembly of the State of New Jersey: 1. R.S. 54:4-23 is amended to read as follows: Assessment of real property; conditions for reassessment. 54:4-23 "...and provided further however, that when the assessor has reason to believe that property comprising all or part of a taxing district has been assessed at a value lower or higher than is consistent with the purpose of securing uniform taxable valuation of property according to law for the purpose of taxation, or that the assessment of property comprising all or part of a taxing district is not in substantial compliance with the law and that the interests of the public will be promoted by a reassessment of such property, the assessor shall, after due investigation, make a reassessment of the property in the taxing district that is not in substantial compliance, provided that (1) the assessor has first notified, in writing, the mayor, the municipal governing body, the county board of taxation, and the county tax administrator of the basis of the assessor's determination that a reassessment of that property in the taxing district is warranted and (2) the assessor has submitted a copy of a compliance plan to the county board of taxation for approval. Following a reassessment of a portion of the taxing district pursuant to an approved compliance plan, the assessor shall certify to the county board of taxation, through such sampling as the county board of taxation deems adequate, that the reassessment is in substantial compliance with the portions of the taxing district that were not reassessed. For the purposes of reassessment, the assessor shall compute and determine the taxable value of such real property at the level established for the county pursuant to law. 2. This act shall take effect immediately." ******************************************************************************************************************** GENERAL INSTRUCTIONS: Filing of the Form This form must be filed with the county board of taxation if you intend to make a property assessment change due to change in valuation. This change in assessment must be documented by a study of sales in a particular part (neighborhood) of your municipality and valued and assessed by the same standards as other property in your municipality (the Director's Average Ratio is often used as a guide.) Attach all other pertinent information to this plan which justifies these proposed assessment changes. In addition to filing this compliance plan, you must also notify, in writing, the mayor and the municipal governing body of your reasons for reassessing a part of your municipality that is not in substantial compliance with the rest of the municipality. This notification must be made prior to reassessing the part of your municipality that is not in substantial compliance. Submission of Form CP does not pertain to those districts with an approved reassessment application or approved revaluation contract. Similarly, however, municipalities filing Form AFR must notify the mayor and local governing body regarding the reassessment in advance of its implementation. County Board of Taxation guidelines for use of Form CP are: Any and all neighborhoods that fall outside of the common level range must be included in the compliance plan. Ordinary neighborhoods with average weighted ratios within the common level range should not be reassessed unless that neighborhood's general coefficient of deviation is over 15 percent. The same standard for selecting areas to be included in the compliance plan must be uniformly applied. Assessment maintenance cannot be used to perform a piecemeal district-wide reassessment or revaluation. No part of a municipality can be arbitrarily selected for adjustment pursuant to assessment maintenance. When using a c