State Codes and Statutes

Statutes > New-jersey > Title-54 > Section-54-3 > 54-3-22

54:3-22.  Hearing of appeals;  witnesses;  evidence;  revision of taxable value;  grounds;  computation
    a.  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.

    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.)

     Amended by L.1946, c. 161, p. 730, s. 17;  L.1960, c. 51, s. 22;  L.1973, c. 123, s. 3, eff. May 9, 1973.