SENATE, No. 1421

STATE OF NEW JERSEY

INTRODUCED JULY 25, 1996

By Senator MATHEUSSEN

An Act concerning information requested by assessor of certain commercial and industrial property owners and amending R.S.54:4-34.

    Be It Enacted by the Senate and General Assembly of the State of New Jersey:

    1. R.S.54:4-34 is amended to read as follows:

    54:4-34. a. Every owner of real property of the taxing district shall, on written request of the assessor, made by certified mail, render a full and true account of his name and real property and the income therefrom, in the case of income-producing property, and produce his title papers, and he may be examined on oath by the assessor, and if he shall fail or refuse to respond to the written request of the assessor within 45 days of such request, or to testify on oath when required, or shall render a false or fraudulent account, the assessor shall value his property at such amount as he may, from any information in his possession or available to him, reasonably determine to be the full and fair value thereof. No appeal shall be heard from the assessor's valuation and assessment with respect to income-producing property where the owner has failed or refused to respond to such written request for information within 45 days of such request or to testify on oath when required, or shall have rendered a false or fraudulent account. The county board of taxation may impose such terms and conditions for furnishing the requested information where it appears that the owner, for good cause shown, could not furnish the information within the required period of time. In making such written request for information pursuant to this section the assessor shall enclose therewith a copy of this section.

    b. Every owner of commercial or industrial real property of the taxing district shall, upon the completion of an improvement to that real property in the taxing district and on written request of the assessor, made by certified mail, render a full and true account of the real property improvement construction costs including the financing, legal, and any government approval costs to the tax assessor.

    The owner may be examined on oath by the assessor, and if the owner shall fail or refuse to respond to the written request of the assessor within 45 days of such request, or to testify on oath when required, or shall render a false or fraudulent account, the assessor shall value the owner's property at such amount as the assessor may, from any information generally available to assessors, reasonably determine to be the highest full and fair value the assessor has reason to suppose it may be valued for taxation. In any appeal heard from the assessor's valuation and assessment with respect to such commercial or industrial real property the appellant shall have the burden of proving that such highest full and fair value does not represent market value. When such an appeal is made all costs associated with the appeal shall be borne by the appellant, regardless of the outcome of the appeal. In making such written request for information pursuant to this section the assessor shall enclose therewith a copy of this section.

(cf: P.L.1979, c.91, s.1)

    2. This act shall take effect immediately and shall be retroactive to January 1, 1994.

STATEMENT

    This bill requires commercial and industrial property owners upon the completion of a new improvement project to submit improvement project costs to the assessor when requested by the assessor.

    The purpose of the bill is to enable the assessor to gather information on current actual commercial and industrial building costs in his municipality.

    Specifically, the bill provides that every owner of commercial or industrial real property of a taxing district shall, upon the completion of an improvement to that real property in the taxing district and on written request of the assessor, made by certified mail, render a full and true account of the real property improvement construction costs including the financing, legal, and any government approval costs to the tax assessor.

    The owner may be examined on oath by the assessor, and if the owner fails or refuses to respond to the written request of the assessor within 45 days of such request, or to testify on oath when required, or renders a false or fraudulent account, the assessor shall value the owner's property at such amount as the assessor may, from any information generally available to assessors, reasonably determine to be the highest full and fair value the assessor has reason to suppose it may be valued for taxation. In any appeal heard from the assessor's

 valuation and assessment with respect to such commercial or industrial real property the appellant shall have the burden of proving that such highest full and fair value does not represent market value. When such an appeal is made all costs associated with the appeal shall be borne by the appellant, regardless of the outcome of the appeal.

    In making such written request for information, the assessor shall enclose therewith a copy of this statute.

Requires commercial and industrial property owners upon completion of new improvement project and upon assessor's request, to submit improvement project costs to assessor.