54:4-63.2 - Valuation of real property on which structures erected, etc., after October 1st and completed before January 1st;Ā assessment
54:4-63.2.Ā Valuation of real property on which structures erected, etc., after October 1st and completed before January 1st;Ā assessment
When any parcel of real property has been sold by any municipality as not needed for public use, and the deed has been delivered after October 1 in any year and before January 1 following, or when any parcel of real property contains any building or other structure which has been erected, added to or improved after October 1 in any year and completed before January 1 following, the assessor shall, after examination and inquiry, determine the taxable value of such parcel of real property as of the first day of the month following completion or sale of said property and if such parcel of real estate was not assessed as of October 1 preceding or if such value so determined exceeds the assessment made as of October 1 preceding, the assessor, shall enter the amountĀ of such assessment or such excess, as an assessment or an added assessmentĀ against such parcel of real property, for the subsequent tax year in a list toĀ be known as theĀ "Added Assessment List, 19 . . . " (inserting the name ofĀ the year in which the assessment is made);Ā such entry to be made opposite theĀ name of the owner and the description and area of the parcel of real property. In addition, the assessor shall enter in such added assessment list anĀ assessment for that portion of the pretax year between the first day of theĀ month following completion or sale of said property and December 31 to be determined by multiplying the amount of such assessment or such excess by theĀ number of whole months remaining in the pretax year after the completion orĀ sale of said property, and by dividing the result by 12.
L.1941, c. 397, p. 1017, s. 2.Ā Amended by L.1945, c. 137, p. 502, s. 1; L.1960, c. 51, s. 34;Ā L.1974, c. 103, s. 1, eff. Oct. 1, 1974.
When any parcel of real property has been sold by any municipality as not needed for public use, and the deed has been delivered after October 1 in any year and before January 1 following, or when any parcel of real property contains any building or other structure which has been erected, added to or improved after October 1 in any year and completed before January 1 following, the assessor shall, after examination and inquiry, determine the taxable value of such parcel of real property as of the first day of the month following completion or sale of said property and if such parcel of real estate was not assessed as of October 1 preceding or if such value so determined exceeds the assessment made as of October 1 preceding, the assessor, shall enter the amountĀ of such assessment or such excess, as an assessment or an added assessmentĀ against such parcel of real property, for the subsequent tax year in a list toĀ be known as theĀ "Added Assessment List, 19 . . . " (inserting the name ofĀ the year in which the assessment is made);Ā such entry to be made opposite theĀ name of the owner and the description and area of the parcel of real property. In addition, the assessor shall enter in such added assessment list anĀ assessment for that portion of the pretax year between the first day of theĀ month following completion or sale of said property and December 31 to be determined by multiplying the amount of such assessment or such excess by theĀ number of whole months remaining in the pretax year after the completion orĀ sale of said property, and by dividing the result by 12.
L.1941, c. 397, p. 1017, s. 2.Ā Amended by L.1945, c. 137, p. 502, s. 1; L.1960, c. 51, s. 34;Ā L.1974, c. 103, s. 1, eff. Oct. 1, 1974.