In march 2013, Gov. Christie signed into law chapter 15 P.L 2013 known as Assessment Demonstration Program to begin in tax year 2014. The Monmouth board of Taxation and the Monmouth County of Assessors has decided to be the first in the state to take on this cost saving project. Many changes will be put in place over the next FIVE years.
Annual Assessment Overview
The primary purpose of the program is to demonstrate a more cost effective and accurate process of property assessment administration for New Jersey.
1. Appeal Calendar
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| Current Taxation Calendar VS Proposed Taxation Calendar |
2.Annual Assessment Revision
The Demonstration program proposes changes that would proved the Assessor with both the authority and the requirement for the annual review and revision of all properties within the jurisdiction.
Increased accuracy in assessments will greatly reduce the exposure losses in appeals and build public confidence in fairness of the system. Such requirements are also intended to reduce frequency of the need for revaluation or reassessment.
Annual Qualified Reassessments and
5 year Internal Inspections
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| List of Towns where the 20% revaluation starts and towns that are being reevaluated. |
- Improve the accuracy of the annual assessments the current model of "10 Year Revaluation" will be replaced by "Annual Qualified Reassessments" supported by "5 Year Internal Inspection" contracts.
- Revaluation service is comprise of inspection, valuation and appeal-defense. Under the new "Annual Qualified Reassessments" model the assessor will be responsible for valuation and appeal defense. ( outside firms to do inspections with geo-coded tablets)
- Each municipality will enter into a 5 year contract (3 years wit h2, 1-year options) for the "Internal inspections of 20% of all line items". This service will presumably be offere by the current revaluation firms. Every 5 years 100% of the properties will be internally inspected which is twice that of the current revaluation model.
- The assessors annual qualified reassessment, supported by the outside internal inspection model, is intended to be a sustainable replacement for all future revaluations.
3. Revision Compliance
The demonstration program provides the power to compel the implementation of revaluation, reassessment, compliance plan and maintenance programs. By providing the ability to expedite the implementation of the revaluation process there will be greater precision in the timely assignment of the individual tax liabilities putting an end to the protracted over/under payment of taxes.
The authority to compel facilitates the implementation plan for annual qualified assessments.
In accordance with the State approved implementation schedule, all Monmouth County towns will be performing annual qualified reassessment supported by 5 year internal inspection programs in the year 2018.
4. Assessment Standardization and Technology Details
This Demonstration program proposes changes that will provide enhanced system administration by requiring that ALL municipalities within the county utilize the same property assessment software.
As a state certified vendor Monmouth county has offered shared services to all municipalities since 1996
In accordance all 53 municipalities will participate in the shared service program beginning 2014.
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Integration with Monmouth county GIS
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Adopted procedures utilizing Statistical Analytics software
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