Sponsored by:
Senator TROY SINGLETON
District 7 (Burlington)
SYNOPSIS
Prohibits municipal assessors from having interest in, and employment by, certain revaluation firms.
CURRENT VERSION OF TEXT
As reported by the Senate Community and Urban Affairs Committee on June 3, 2019, with amendments.
An Act 1[concerning conflicts of interest between tax assessors and] prohibiting a municipal assessor from having any interest in, or employment by, a1 revaluation 1[firms] firm engaged in revaluing properties in any municipality in the State1 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.
1[No] A person serving as a1 tax assessor 1in this State1 shall 1not1 have any interest 1, in any manner1 whatsoever, 1[directly or indirectly, as an officer, stockholder or employee, or in any other capacity,]1 in a revaluation firm engaged in revaluing properties in 1[any taxing district within a county in which the tax assessor serves] the State1. 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, 1[no] a1 revaluation firm shall 1not1 be qualified to conduct a revaluation in 1[a county] the State1 if a tax assessor serving in the 1[county] State1 has any interest, 1[directly or indirectly, as an officer, stockholder or employee, or in any other capacity] in any manner whatsoever1 , 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 1[with respect to officers, stockholders and employees of a revaluation firm]1:
1["No tax] "An1 assessor 1[within the county]1 shall 1not1 have any interest 1, in any manner1 whatsoever, 1[directly or indirectly, as an officer, stockholder, or employee or]1 in 1[any other capacity of]1 the revaluation firm."
(cf: P.L.1971, c.424, s.2)
4. This act shall take effect immediately.