Bill Text: NJ A4020 | 2016-2017 | Regular Session | Introduced
Bill Title: Prohibits performance of revaluation in county by firm in which tax assessor has interest if assessor serves in the county.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2016-06-30 - Introduced, Referred to Assembly State and Local Government Committee [A4020 Detail]
Download: New_Jersey-2016-A4020-Introduced.html
Sponsored by:
Assemblyman DAVID P. RIBLE
District 30 (Monmouth and Ocean)
SYNOPSIS
Prohibits performance of revaluation in a county by a firm in which tax assessor has an interest if the assessor serves in the county.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning conflicts of interest between tax assessors and revaluation firms and amending P.L.1981, c.393 and P.L.1971, c.424.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Section 4 of P.L.1981, c.393 (40A:9-146.4) is amended to read as follows:
4. A municipal tax assessor may be appointed in more than one municipality; provided that the holding of additional appointments does not interfere with the proper discharge of statutory duties, nor conflict with obligations to the respective municipalities in which the assessor serves.
The compensation of a tax assessor appointed in more than one municipality shall not be reduced, nor shall any increases in compensation be denied, because of the multiple service.
No tax assessor shall have any interest whatsoever, directly or indirectly, as an officer, stockholder or employee, or in any other capacity, in a revaluation firm engaged in revaluing properties in any taxing district within a county in which the tax assessor serves. For the purposes of this section, "revaluation firm" includes a parent corporation and a subsidiary of a firm.
(cf: P.L.1981, c.393, s.4)
2. Section 1 of P.L.1971, c.424 (C.54:1-35.35) is amended to read as follows:
1. a. The Director of the Division of Taxation in the Department of the Treasury shall by rule establish standards to be used in the valuation and revaluation of real property to be used for assessment purposes and shall prescribe minimum qualifications for firms and individuals engaged in the business of valuing and revaluing all or designated portions of real property in a municipality under contract.
b. In addition to qualifications for revaluation firms prescribed by rule pursuant to subsection a. of this section, no revaluation firm shall be qualified to conduct a revaluation in a county if a tax assessor serving in the county has an interest, directly or indirectly, as an officer, stockholder or employee, or in any other capacity, in the revaluation firm, or the parent corporation or a subsidiary of the revaluation firm.
(cf: P.L.1971, c.424, s.1)
3. Section 2 of P.L.1971, c.424 (C.54:1-35.36) is amended to read as follows:
2. a. Any municipality proposing to contract for a valuation or revaluation of all or designated portions of the real property in the municipality shall submit the proposed contract to the Director of the Division of Taxation for his review and approval and accord with the standards for such work established by him and for a determination that the proposed contractor meets the prescribed qualifications. The director shall take action on the proposed contract within 30 days of its submission.
b. A contract submitted to the director pursuant to subsection a. of this section shall include the following provision with respect to officers, stockholders and employees of a revaluation firm:
"No tax assessor within the county shall have any interest whatsoever, directly or indirectly, as an officer, stockholder, or employee or in any other capacity of the revaluation firm."
(cf: P.L.1971, c.424, s.2)
4. This act shall take effect immediately.
STATEMENT
This bill prohibits a tax assessor from having an interest in a firm performing revaluations within a county in which the tax assessor serves. The bill also prohibits a revaluation firm in which a tax assessor has an interest from conducting a revaluation in a county in which the assessor serves.
