reglab/statecodes huggingface dataset:
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 7 - ROLL-BACK TAXES › Section 18:15-7.2 - Liability attaches on land use change

Current through Register Vol. 56, No. 14, July 15, 2024
(a)
				The liability for roll-back taxes attaches to the land at the time a change in the
				use of the land occurs, but not when a change in ownership takes place if the new
				owner continues to devote the land to agricultural or horticultural use in
				conformity with the requirements of the Act.
(b) Land acquired by the State, a local government
				unit, a qualifying tax-exempt nonprofit organization, or the Palisades Interstate
				Park Commission for recreation and conservation purposes will not be subject to
				roll-back taxes. As used in this section, "acquired," "local government unit,"
				"qualifying tax-exempt nonprofit organization," and "recreation and conservation
				purposes" mean the same as those terms are defined pursuant to
				N.J.S.A.
				13:8C-3 and as amended by
				N.J.S.A.
				13:8C-29.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 7 - ROLL-BACK TAXES › Section 18:15-7.3 - Amount; computation

Current through Register Vol. 56, No. 14, July 15, 2024
(a) In determining
				the amount of roll-back taxes chargeable on land that has undergone a change in use,
				the assessor is required for each of the roll-back tax years involved to ascertain:
1. The full and fair value, that is, true market
				value, of such land under the valuation standard applicable to other taxable land in
				the taxing district;
2. The amount of
				the land assessment for the particular tax year by multiplying such full and fair
				value by the common level percentage, also known as the Director's Ratio, as
				determined by the county board of taxation in accordance with
				N.J.S.A.
				54:4-2.27;
3. The amount of the additional assessment on the
				land for the particular tax year by deducting the amount of the actual assessment on
				the land for that year from the amount of the land assessment determined under (a)2
				above; and
4. The amount of the
				roll-back tax for that year by multiplying the amount of the additional assessment
				determined under (a)3 above by the general property tax rate of the taxing district
				applicable for that tax year. The general property tax rate does not include special
				district tax rates, only those rates for counties, school districts, and
				municipalities.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 7 - ROLL-BACK TAXES › Section 18:15-7.4 - Tax years applicable

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Roll-back
				taxes are applied to land for the tax year in which the change in the use of the
				land occurs and for such of the two tax years immediately preceding such year if
				assessed under the Act.
(b) Examples are
				as follows:
Example (1): A parcel of land qualifies for farmland assessment
				  for the tax years 2015, 2016, and 2017. A change of use occurs in June 2017. The
				  land is subject to roll-back taxes for the tax years 2015, 2016, and 2017.
Example (2): A parcel of land was assessed generally for the tax
				  year 2015, and qualified for farmland assessment in the tax years 2016 and 2017. A
				  change in use occurs in June 2017. The land is subject to roll-back taxes for the
				  tax years 2016 and 2017, but not subject to roll-back taxes for the tax year 2015,
				  inasmuch as the land was not assessed under the Act for such tax
				  year.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 7 - ROLL-BACK TAXES › Section 18:15-7.5 - Change in use when land not assessed under the Act

Current through Register Vol. 56, No. 14, July 15, 2024
(a) If a change in use of the land occurs in a tax
				year when the land was not assessed and taxed under the Act, then such land becomes
				subject to roll-back taxes for such of the two tax years immediately preceding in
				which the land was assessed under the Act.
Example: A parcel of land was assessed under the Act for the tax
				  years 2015 and 2016, but not for 2017. A change in use occurs in June 2017. The land
				  is subject to roll-back taxes for the tax years 2015 and 2016, but is not subject to
				  roll-back taxes for 2017, inasmuch as the land was not assessed under the Act for
				  such tax year.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 7 - ROLL-BACK TAXES › Section 18:15-7.6 - Procedure for assessment, collection, apportionment, and payment of roll-back taxes

Current through Register Vol. 56, No. 14, July 15, 2024
The assessment, collection, apportionment, and payment of the
				  roll-back taxes imposed by the Act is governed by the procedures set forth in
				  54:4-23.8 and 23.9 and the provisions
				  of 54:4-63.1 2 through 63.30 for the
				  assessment and taxation of omitted property.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 7 - ROLL-BACK TAXES › Section 18:15-7.7 - Due date

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The due date for
				payment of roll-back taxes is governed by
				54:4-63.2 0 dealing with the assessment
				and taxation of omitted property.
(b)
				Roll-back taxes are payable on November 1 following the rendering of the judgment of
				assessment by the county board of taxation, provided such judgment is rendered
				before October 1 of that year.
(c) If
				such judgment is rendered subsequent to October 1 and before December 31, such taxes
				are payable on November 1 of the following year.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 7 - ROLL-BACK TAXES › Section 18:15-7.8 - Lien date

Current through Register Vol. 56, No. 14, July 15, 2024
Roll-back taxes become a lien upon the land as of January 1 of
				  the year in which the judgment of the county board is rendered.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 7 - ROLL-BACK TAXES › Section 18:15-7.9 - Review of judgment of county board of taxation

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The right of a taxing district, owner or other
				interested party to review any judgment of the county board of taxation affecting
				roll-back taxes is governed by the procedures provided for the assessment and
				taxation of omitted property (54:4-63.2 3).
(b) Any judgment may be reviewed by the Tax Court
				of New Jersey on appeal taken and prosecuted in the same manner as other appeals to
				said Court.
(c) The notice of appeal is
				required to be filed with said Tax Court within 45 days of the service of the
				judgment of the county board of taxation.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 7 - ROLL-BACK TAXES › Section 18:15-7.10 - Tax years when procedures applicable

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The
				procedures for the assessment, collection, apportionment and payment of the
				roll-back taxes, the attachment of the lien for such taxes, and the right of a
				taxing district, owner or other interested party to review any judgment of the
				county board of taxation affecting such roll-back taxes, apply to each tax year for
				which roll-back taxes may be imposed, regardless of or despite the limitation,
				prescribed in the Omitted Assessment Law, (N.J.S.A.
				54:4-63.23 ) respecting the periods for which
				omitted assessments may be imposed.
(b)
				For the purpose of applying the roll-back tax authorized by the Farmland Assessment
				Act of 1964, the procedures of the Omitted Property Tax Law apply for the tax year
				in which a change in use takes place and in such of the two tax years immediately
				preceding in which the land was valued, assessed, and taxed under said
				Act.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 8 - CHANGE OF USE › Section 18:15-8.1 - Effect

Current through Register Vol. 56, No. 14, July 15, 2024
(a) When land that is
				being assessed under the Act is applied to a use other than agricultural or
				horticultural, it becomes subject to roll-back taxes. (See N.J.A.C. 18:15-7,
				Roll-Back Taxes, for procedure imposing roll-back taxes. See N.J.A.C. 18:15-12,
				Eminent Domain, respecting the applicability of roll-back taxes in case of eminent
				domain.)
(b) Despite the provisions of
				any law, rule, or regulation to the contrary, land which is valued, assessed, and
				taxed under the provisions of the Act,
				N.J.S.A.
				54:4-23.1 et seq., and is acquired by the State, a
				local government unit, a qualifying tax exempt nonprofit organization, or the
				Palisades Interstate Park Commission for recreation and conservation purposes will
				not be subject to roll-back taxes.
1. As used in
				this subsection, "acquired," "local government unit," "qualifying tax exempt
				nonprofit organization," and "recreation and conservation purposes" mean the same as
				those terms are defined pursuant to
				N.J.S.A.
				13:8C-3, the Garden State Preservation Trust
				Act.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 8 - CHANGE OF USE › Section 18:15-8.2 - Change of use between certain dates

Current through Register Vol. 56, No. 14, July 15, 2024
(a) If a
				change in the use of land occurs between August 1 and December 31 of the pre-tax
				year, and an application is then pending for assessment under the Act for the
				ensuing tax year, either the assessor or the county board of taxation, as the case
				may be, shall deny or nullify such application and, after examination and inquiry,
				determine the full and fair value of said land under the valuation standard
				applicable to other land in the taxing district and assess the same according to
				such value.
Example: An application is filed with the assessor on or before
				  August 1, 2016, for farmland assessment for the tax year 2017. On November 15, 2016,
				  a change in use of the land takes place. The assessor, knowing of the change of use,
				  will deny the application and value and assess the land for the tax year 2017 in the
				  same manner as other real property in the taxing district. If the assessor is
				  unaware of such change before he files his assessment list and duplicate on January
				  10 following, then the county board of taxation, if it has knowledge of the change
				  before the tax roll becomes final, will revoke the application and assess the land
				  in the same manner as other real property in the taxing district.
(b) If, regardless such change of use, the land is
				assessed under the Act in the ensuing tax year, then the assessor is required to
				enter an assessment, as an added assessment against such land, in the "Added
				Assessment List" for the particular tax year involved in the manner prescribed in
				the Added Assessment Law,
				N.J.S.A.
				54:4-63.2 et seq.
(c) The added assessment is to be in an amount
				equal to the difference, if any, between the assessment imposed under the Act and
				the assessment that would have been imposed had the land been valued and assessed as
				other land in the taxing district. This added assessment is applicable to the full
				tax year and not subject to proration.
Example: A change in use takes place on November 15, 2016, but is
				  not discovered by the assessor or the county board of taxation until June 1, 2017.
				  In that event, the assessor will enter an added assessment against the land on the
				  "Added Assessment List" for 2017, in accordance with (b) above. In addition, he or
				  she shall impose roll-back taxes using the regular, not the alternative omitted
				  procedure, for such of the tax years 2016, 2015, and 2014, in which the land was
				  assessed under the Act.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 8 - CHANGE OF USE › Section 18:15-8.3 - Effect of additional assessment on roll-back taxes

Current through Register Vol. 56, No. 14, July 15, 2024
The imposition of an additional assessment for the tax year,
				  under N.J.S.A.
				  54:4-23.13 by reason of a change in use between
				  October 1 and December 31 of the pre-tax year, does not affect the imposition of the
				  roll-back taxes, if any, under the roll-back provisions set forth in
				  N.J.S.A.
				  54:4-23.8.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 9 - EQUALIZATION-STATE SCHOOL AID AND COUNTY APPORTIONMENT PURPOSES › Section 18:15-9.1 - Apportionment valuation of land; classification; assessment ratio

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Director, in
				equalizing the value of land assessed and taxed under the Act for the purposes of
				State school aid, and each county board of taxation in equalizing the value of such
				land for the purpose of determining the "apportionment valuation" under
				N.J.S.A.
				54:4-49, shall determine the true value of such
				land on the basis of its agricultural or horticultural use.
(b) In the sales-ratio analysis for such purposes,
				the assessed value of farm property is to be divided into two categories, namely,
				farmland assessed under the Act and farmland assessed as other real property in the
				taxing district.
(c) A separate
				assessment ratio is then to be determined for each property classification, except
				that the assessment ratio determined for the classification "Residential" is also
				applied to the classification "Farmland Assessed Under the Act." (See
				N.J.A.C.
				18:12-2.2 )
(d) The true value for each classification, the
				true value of all property in the district, and the average assessment ratio for the
				district, is to be determined in accordance with the established sales-ratio
				procedures.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 10 - CONTINUANCE OF FARMLAND ASSESSMENT › Section 18:15-10.1 - Continuous agricultural use for farmland assessment

Current through Register Vol. 56, No. 14, July 15, 2024
(a) In order that
				land continue to be valued, assessed, and taxed as farmland it must continue to be
				devoted to agricultural or horticultural use and comply with the other requirements
				of the Act.
(b) Liability for roll-back
				taxes does not accrue when a change in ownership takes place if the new owner
				continues to devote the land to agricultural or horticultural use, under the
				conditions prescribed in the Act.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 11 - SEPARATION OR SPLIT-OFF › Section 18:15-11.1 - Liability for roll-back taxes on land split-off

Current through Register Vol. 56, No. 14, July 15, 2024
The separation or split-off of a part of any land assessed under
				  the Act, either by conveyance or other action of the owner, for a use other than
				  agricultural or horticultural, subjects the separated or split-off land to liability
				  for the roll-back taxes applicable. (See
				  N.J.S.A.
				  54:4-23.16 )
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 11 - SEPARATION OR SPLIT-OFF › Section 18:15-11.2 - Land still meeting requirements of the Act

Current through Register Vol. 56, No. 14, July 15, 2024
The separation and change of use does not impair the right of the
				  remaining land to continue to be assessed under the Act, provided it still meets the
				  five acre minimum area requirement and other conditions of the Act as may be
				  applicable.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 12 - EMINENT DOMAIN › Section 18:15-12.1 - Effect of roll-back taxes on eminent domain and condemnation

Current through Register Vol. 56, No. 14, July 15, 2024
The taking of land that is being valued, assessed, and taxed
				  under the Act by right of eminent domain pursuant to
				  N.J.S.A.
				  20:3-1 is not exempt from the imposition of
				  roll-back taxes.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 13 - CONTIGUOUS LAND IN MORE THAN ONE TAXING DISTRICT › Section 18:15-13.1 - Determination of minimum area requirement

Current through Register Vol. 56, No. 14, July 15, 2024
Where contiguous land in agricultural or horticultural use and in
				  single ownership is located in more than one taxing district, compliance with the
				  five acre minimum area requirement is determined on the basis of the total area of
				  such land and not merely the area of the part which is located in the particular
				  taxing district.
Example:
An application for farmland assessment covers 15 contiguous acres
				  of land in agricultural use in single ownership; three acres are in taxing district
				  A, the remaining 12 acres are in taxing district B. The three acres in taxing
				  district A are deemed to meet the five-acre minimum area requirement, since it is
				  the aggregate contiguous area, in single ownership, that determines area eligibility
				  in such case, and not merely the area of the portion located in the individual
				  taxing district. (See
				  N.J.A.C.
				  18:15-3.2(c)  )
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 14 - STATE FARMLAND EVALUATION COMMITTEE › Section 18:15-14.1 - Creation

Current through Register Vol. 56, No. 14, July 15, 2024
Under the Act, a State Farmland Evaluation Committee (Committee)
				  is created, the members of which are the Secretary of Agriculture; the Dean of the
				  College of Agriculture, Rutgers--The State University; the Director of the Division
				  of Taxation; a municipal tax assessor, county assessor, or county tax administrator,
				  who is appointed by the Governor with the advice and consent of the Senate; and a
				  farmer who is a current or former member of the State Board of Agriculture, who is
				  appointed by the Governor with the advice and consent of the Senate. Each appointed
				  member serves for a term of three years and may be appointed to successive
				  terms.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 14 - STATE FARMLAND EVALUATION COMMITTEE › Section 18:15-14.2 - Meetings and duties

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Committee meets from time to time on the
				call of the Secretary of Agriculture and annually determines and publishes a range
				of values for each of the several classifications of lands in agricultural and
				horticultural use in the various areas of the State.
(b) The Committee also conducts the review,
				required every three years, or sooner at the call of the Secretary of Agriculture or
				the Director of the Division of Taxation, of the minimum gross sales, payments,
				fees, and imputed income requirements, and anticipated yearly gross sales, payments,
				fees, and imputed income requirements, in order for land which is actively devoted
				to agricultural or horticultural use to be eligible for valuation, assessment, and
				taxation under the provisions of
				N.J.S.A.
				54:4-23.1 et seq., as prescribed by
				N.J.S.A.
				54:4-23.5, and may raise the amounts of those
				minimums to such levels as the Committee determines appropriate as authorized
				pursuant to N.J.S.A. 54:4-23.5.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 14 - STATE FARMLAND EVALUATION COMMITTEE › Section 18:15-14.3 - Objectives

Current through Register Vol. 56, No. 14, July 15, 2024
The primary objectives of the Committee are the determination of
				  the ranges in fair value of such land based upon its productive capabilities when
				  devoted to agricultural or horticultural uses and the determination of the minimum
				  income requirements needed to be considered actively devoted. The Committee is also
				  to review farmland assessment application forms and make recommendations to the
				  Director of the Division of Taxation.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 14 - STATE FARMLAND EVALUATION COMMITTEE › Section 18:15-14.4 - Considerations in determining value

Current through Register Vol. 56, No. 14, July 15, 2024
(a) In making annual
				determinations of value, the Committee considers available evidence of agricultural
				and horticultural capability derived from the soil survey data at Rutgers -- The
				State University, the National Cooperative Soil Survey, and such other evidence of
				value of land devoted exclusively to agricultural or horticultural uses as it may in
				its judgment considers pertinent.
(b) On
				or before October 1 of each year, the Committee makes these ranges of fair value
				available to the assessing authority in each of the taxing districts in which land
				in agricultural or horticultural use is located.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 14 - STATE FARMLAND EVALUATION COMMITTEE › Section 18:15-14.5 - Effect of assessor

Current through Register Vol. 56, No. 14, July 15, 2024
While values recommended by this Committee for the several
				  classifications of land in agricultural or horticultural use in the various areas of
				  the State are not binding upon the assessor, he or she is required by Section 7 of
				  the Act to "... consider available evidence of agricultural and horticultural
				  capability derived from the soil survey data at Rutgers --The State University, the
				  National Cooperative Soil Survey and the recommendations of value of such land as
				  made by any county or state-wide committee which may be established to assist the
				  assessor...," in determining the value of such land for assessment purposes under
				  the Act.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 15 - FARMLAND ASSESSMENT ACT › Subchapter 14 - STATE FARMLAND EVALUATION COMMITTEE › Section 18:15-14.6 - Development of agricultural or horticultural use values by assessors

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Director
				recommends that an assessor utilize the valuation standards established by the State
				Farmland Evaluation Committee in valuing farmland qualified property in accordance
				with N.J.S.A.
				54:4-23.7.
(b) In the event an assessor plans not to utilize
				the valuation standards established by the State Farmland Evaluation Committee in
				valuing qualified farmland, the assessor shall submit such alternate standards to
				the Director by November 1 of the pre-tax year, indicating his or her reasons for
				not following the Committee's recommendations. The assessor shall further submit a
				detailed explanation as to the procedure and valuation standards to be applied in
				valuing qualified farmland.
(c) After
				review of such information, the Director shall inform the assessor and the
				respective county board of taxation by December 10 of the pre-tax year as to the
				propriety of utilizing the alternate standard. If the Director advises against
				utilization of the alternate standard and the assessor chooses to rely on such
				standard for establishing qualified farmland assessments, he or she shall give
				written notice to the Director and the county board of taxation no later than
				December 31 of the pre-tax year.
(d) The
				county board of taxation, after its review as provided under
				N.J.S.A.
				54:4-46, shall direct the assessor to make such
				changes it considers necessary to accomplish qualified farmland assessments in
				accordance with the Farmland Assessment Act of 1964.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 16A - CONTROLLING INTEREST TRANSFER TAX › Subchapter 1 - CONTROLLING INTEREST TRANSFER TAX › Section 18:16A-1.1 - Definitions of words and terms

Current through Register Vol. 56, No. 14, July 15, 2024
The following words and terms, when used in this subchapter,
				  shall have the following meanings, unless the context clearly indicates
				  otherwise:
"Beneficial ownership" means ownership of tangible or intangible
				  property by a person or entity that does not have legal title to the property but
				  has ultimate control of the property in regard to the transfer of a controlling
				  interest in class 4A commercial real property between that person or entity and a
				  separate legal entity.
"Classified real property" means commercial property as defined
				  in 18:12-2.2(e)  that is
				  income-producing real property other than property classified as vacant land,
				  residential property, farm property, industrial properties and apartments designed
				  for the use of five or more families including residential cooperatives and mutual
				  housing corporations.
"Consideration" means the actual amount of money and the monetary
				  value of any other thing of value constituting the entire compensation paid or to be
				  paid for the transfer including the remaining amount of any prior mortgage to which
				  the transfer is subject or which is to be assumed and agreed to be paid by the
				  purchaser.
"Controlling interest" means, with respect to entities:
1. In the case of a corporation, more than 50 percent of the
				  total combined voting power of all classes of stock of that corporation; or
2. In the case of an entity that is a partnership, association,
				  trust or other organization, more than 50 percent of the beneficial ownership of
				  that partnership, association, trust or other organization.
With respect to classified real property, "controlling interest"
				  means more than 50 percent of the fee simple ownership of the classified real
				  property.
"Equalized assessed value" means the assessed value of the
				  property in the year that the transfer is made divided by the Director's
				  equalization ratio, which changes each year based on a sales study. The resulting
				  amount is the equalized assessed value. The Director's equalization ratio is
				  published annually on or before October 1 by the Director, Division of Taxation
				  pursuant to 54:1-35.1. Since assessed value, which
				  is the value on the tax rolls, does not change often, the calculation is needed to
				  approximate the current fair market value of the property.
"Related parties" means parties that have the relationship
				  necessary for attribution of constructive ownership of stock pursuant to IRC §
				  318 and members of an affiliated group or a controlled group pursuant to IRC §
				  1504 or IRC § 1563.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 16A - CONTROLLING INTEREST TRANSFER TAX › Subchapter 1 - CONTROLLING INTEREST TRANSFER TAX › Section 18:16A-1.2 - Calculation of the tax

Current through Register Vol. 56, No. 14, July 15, 2024
(a) On and after August
				1, 2006, a tax is imposed on the transfer of certain controlling interests. There
				are two different methods for calculating the tax that are used under differing
				circumstances. Under both methods the tax is paid by the purchaser.
1. The first method is used if consideration in
				excess of $ 1,000,000 is paid for controlling interest in an entity, and the entity
				possessing, directly or indirectly, the controlling interest in classified real
				property owns only the classified real property. In this case the tax is calculated
				by multiplying the consideration paid by one percent.
2. The second method is used if a controlling
				interest in an entity is sold or transferred and the entity possesses, directly or
				indirectly, a controlling interest in classified real property and also an interest
				in other property, real or personal. In this second method, the equalized assessed
				value of the classified property, not the amount of consideration paid for the
				controlling interest itself, is used in the calculation of tax. In this situation,
				the tax is paid only if the equalized assessed value of the classified real property
				exceeds $ 1,000,000. The tax is calculated by multiplying the equalized assessed
				value of the classified real property by one percent times the ownership percentage
				transferred. Thus, the tax is measured by the portion of the equalized assessed
				value that is proportional to the percentage of the total interest in the property
				transferred.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 16A - CONTROLLING INTEREST TRANSFER TAX › Subchapter 1 - CONTROLLING INTEREST TRANSFER TAX › Section 18:16A-1.3 - Exceptions to tax

Current through Register Vol. 56, No. 14, July 15, 2024
(a) No tax shall apply
				to any sale or transfer:
1. By or to the United
				States of America, the State of New Jersey, or any instrumentality, agency or
				subdivision thereof;
2. To a purchaser
				that is recognized as qualified under IRC § 501(c)3;
3. Having the characteristics of transactions
				listed in 46:15-10, which concerns deeds excluded
				from the additional recording fee;
4.
				That is subject to the fee imposed tax pursuant to
				46:15-7.2; or
5. That is incidental to a corporate merger or
				acquisition if the equalized assessed value of the classified real property
				transferred is less than 20 percent of the total value of all assets exchanged in
				the merger or acquisition.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 16A - CONTROLLING INTEREST TRANSFER TAX › Subchapter 1 - CONTROLLING INTEREST TRANSFER TAX › Section 18:16A-1.4 - Filing and recordkeeping

Current through Register Vol. 56, No. 14, July 15, 2024
(a) On or before the
				last day of the month following the month when the sale or transfer of a controlling
				interest was completed, the purchaser/transferee must file a return (Form CITT-l)
				with the Director, Division of Taxation. Payment of the tax shall accompany the
				return. A copy of the return shall be filed as a supporting attachment and accompany
				the purchaser/transferee's business tax return filed with New Jersey.
(b) The purchaser/transferee shall supply a copy
				of the CITT-1 to the seller/transferor and a copy of such return shall be filed as a
				supporting attachment and accompany the seller/transferor's business tax return for
				the entity filed with New Jersey.
(c) If
				sale or transfer of a controlling interest in an entity, which owns classified real
				property occurs, the entity shall keep a record of each transfer of, or connected
				with, a controlling interest in its stock or in its capital, profits, or beneficial
				interests as the case may be.
(d) If an
				exemption from tax is claimed and an exemption box is checked on form CITT-1, Part 6
				or Part 7, a properly executed CITT-1E "Statement of Waiver" must be attached to
				Form CITT-1, and both forms must be filed. The completed CITT-1E documents why no
				tax is paid. If an exemption is claimed, calculations must nevertheless be shown on
				Part 6 and/or Part 7 of the CITT-1.
(e)
				Administration of the controlling interest transfer tax is governed by the
				provisions of The State Uniform Tax Procedure Law,
				54:48-1 et seq.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 17 - ASSESSOR QUALIFICATION LAW › Subchapter 1 - EXAMINATIONS › Section 18:17-1.1 - Examinations for tax assessor certificate

Current through Register Vol. 56, No. 14, July 15, 2024
(a) All applicants for a
				tax assessor certificate must take and pass an examination that is given annually in
				March and September at times and places announced by the Director of the Division of
				Taxation (Director). Prior to June 30, 1969, certificates could be issued without
				examination pursuant to
				N.J.S.A.
				54:1-35.28 that applied to persons performing the
				duties of an assessor, who satisfactorily completed approved training courses. This
				procedure is no longer available and all persons must take the examination
				described.
(b) The examinations for a
				tax assessor certificate will be either written or oral, or both, and of such
				character as to fairly test and determine the qualifications, fitness, and ability
				of the applicant to perform the duties of an assessor.
(c) The examination will be weighed in the manner
				prescribed by the Director, Division of Taxation.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 17 - ASSESSOR QUALIFICATION LAW › Subchapter 1 - EXAMINATIONS › Section 18:17-1.2 - Application

Current through Register Vol. 56, No. 14, July 15, 2024
(a) All persons desiring to take the examinations
				must file an application, Form AC-1, at least 30 days prior to the announced date of
				the examination.
(b) Applications for a
				tax assessor certificate may be obtained from Property Administration, PO Box 251,
				Trenton, NJ 08695-0251. Applications may also be downloaded from the following
				Internet website:
www.state.nj.us/treasury/taxation/lpt/localtax.htm
.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 17 - ASSESSOR QUALIFICATION LAW › Subchapter 1 - EXAMINATIONS › Section 18:17-1.3 - Eligibility prerequisites

Current through Register Vol. 56, No. 14, July 15, 2024
(a) To be eligible for
				the tax assessor's examination, a person must meet the following requirements and
				submit proof of the same at the time the application is filed:
1. Applicant must be a citizen of the United
				States;
2. Applicant must be 21 years of
				age or older;
3. Applicant must be of
				good moral character;
4. Applicant must
				have obtained a certificate or diploma issued after at least four years of study in
				an approved secondary school, or have received an academic education considered and
				accepted by the New Jersey Commissioner of Education as fully equivalent;
				and
5. Applicant must have graduated
				from a four year course at a college of recognized standing, provided, however, in
				lieu of college an applicant may substitute full-time experience in real estate
				appraisal work or experience in property tax assessment work on a year-for-year
				basis.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 17 - ASSESSOR QUALIFICATION LAW › Subchapter 1 - EXAMINATIONS › Section 18:17-1.4 - Application notarization; fees

Current through Register Vol. 56, No. 14, July 15, 2024
(a) An application will
				not be considered unless it is signed by the applicant, notarized, and accompanied
				by a fee in the amount of $ 10.00 made payable to the "State Treasurer."
(b) A successful applicant is required to pay a
				fee of $ 25.00 made payable to the "State Treasurer" in order to obtain a tax
				assessor certificate.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 17 - ASSESSOR QUALIFICATION LAW › Subchapter 1 - EXAMINATIONS › Section 18:17-1.5 - Examination results

Current through Register Vol. 56, No. 14, July 15, 2024
Notification of exam results will be sent to the examinee,
				  stating whether the examinee either passed or failed the exam. Notifications for
				  persons failing exams will provide the unsuccessful examinee with their score and
				  the score required to pass. Successful examinees will not receive their
				  score.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 17 - ASSESSOR QUALIFICATION LAW › Subchapter 1 - EXAMINATIONS › Section 18:17-1.6 - Preservation of confidential records

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Director
				preserves the applications, confidential test papers, and other work, except such as
				is returned to the applicant, and keeps a record of the results of the examinations
				and the date of issuance of tax assessor certificates for a period of five years
				from the date of the exam. After which such records may, at the discretion of the
				Director, be destroyed. All tax assessor certificates issued after July 1, 2000, are
				dated uniformly in order to facilitate the administration of assessor continuing
				education requirements as follows: January 1 of the year following all September
				examinations; and July 1 in the same calendar year following all March
				examinations.
(b) The Director, at his
				or her discretion, may issue a tax assessor certificate at any time. Such
				circumstances include where an examinee passed the exam and has an offer for
				employment prior to the ordinary certificate issue date that requires the individual
				to have a tax assessor certificate or where the certificate was lost due to
				unforeseen natural causes and the assessor remains in good standing.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 17 - ASSESSOR QUALIFICATION LAW › Subchapter 2 - ASSESSOR CONTINUING EDUCATION REQUIREMENTS AND BOARD COMPOSITION AND PROCEDURES › Section 18:17-2.1 - Recertification requirements

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Tax assessor
				certificates shall expire five years following the date of issuance of the
				certificate and shall be renewed in accordance with the procedure established in the
				Act and this section.
1. Prior to the first renewal
				date of a tax assessor certificate, every applicant shall, on a form prescribed by
				the Director of the Division of Taxation, furnish proof of having earned at least 50
				continuing education credit hours over the prior five-year period. The required
				allocation of the 50 minimum credit hours is as follows:
i. Twenty credit hours in property tax
				administration;
ii. Twenty credit hours
				in real property appraisal; and
iii. Ten
				hours in either property tax administration or real property appraisal.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 17 - ASSESSOR QUALIFICATION LAW › Subchapter 2 - ASSESSOR CONTINUING EDUCATION REQUIREMENTS AND BOARD COMPOSITION AND PROCEDURES › Section 18:17-2.2 - Additional requirement for assessors in municipalities or counties containing Class 3B property

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Commencing January 1, 2018, prior to every
				renewal date of a tax assessor certificate issued to a tax assessor of a
				municipality and for any county assessor of a county where one or more Class 3B
				(Farm Qualified) properties subject to valuation, assessment, and taxation pursuant
				to N.J.S.A.
				54:4-23.1 et seq., are located, the applicant for
				renewal shall, on Form CEU-3, Uniform Request for Continuing Education Credit, and
				Form CEU-4, Attendance Record for Continuing Education, furnish proof of having
				taken, at least once in the prior three years, the continuing education course
				concerning certain aspects of farmland assessment required to be offered, free of
				charge, by the Division of Taxation, in conjunction with the Department of
				Agriculture, pursuant to
				N.J.S.A.
				54:4-23.3d(b).
Example: Municipality Y contains Class 3B properties and a
				  sitting tax assessor for Municipality Y has a tax assessor certificate that is up
				  for renewal on January 1, 2018. The tax assessor must have attended the Division of
				  Taxation's farmland assessment courses in 2016 or 2017.
(b) Any county tax administrator or county board
				of taxation member in a county containing Class 3B property must also attend the
				Division of Taxation's farmland assessment courses as prescribed in (a) above due to
				their primary responsibilities in hearing appeals and supervising
				assessors.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 17 - ASSESSOR QUALIFICATION LAW › Subchapter 2 - ASSESSOR CONTINUING EDUCATION REQUIREMENTS AND BOARD COMPOSITION AND PROCEDURES › Section 18:17-2.3 - Continuing Education Eligibility Board

Current through Register Vol. 56, No. 14, July 15, 2024
(a) There is established
				within the Division of Taxation in the Department of the Treasury, the Tax Assessor
				Continuing Education Eligibility Board. The Continuing Education Eligibility Board
				consists of six members and is comprised as follows:
1. Director of the Division of Taxation or his or
				her designee;
2. President of the New
				Jersey Association of Municipal Assessors;
3. President of the New Jersey Association of
				County Tax Board Commissioners and County Tax Administrators (NJACTB);
4. The Director of the Division of Taxation shall
				appoint an additional member who shall serve on the Board for a term of two
				years;
5. The President of the
				Association of Municipal Assessors of New Jersey (AMANJ) shall appoint an additional
				member who shall serve on the Board for a term of two years; and
6. The Director of the Center for Government
				Services at Rutgers University or his or her designee shall serve ex-officio.
				Ex-officio membership has a vote and powers exercised by an officer, which are not
				specifically conferred upon him or her, but are necessarily implied by his or her
				office.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 17 - ASSESSOR QUALIFICATION LAW › Subchapter 2 - ASSESSOR CONTINUING EDUCATION REQUIREMENTS AND BOARD COMPOSITION AND PROCEDURES › Section 18:17-2.4 - Continuing education course topics and course composition

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Continuing
				Education Eligibility Board shall approve only those continuing education activities
				and course topics as are considered by the Continuing Education Eligibility Board to
				be consistent with the purpose of tax assessor continuing education. Course credits
				are classified as either property tax administration or real property appraisal.
1. Property tax administration covers the local
				government units of New Jersey, State Constitution, and the statutory basis of
				assessing.
i. Examples include real property tax
				deductions, exemptions, abatements, farmland assessment, revaluation, and
				reassessment duties, the tax appeal process, and the sales ratio.
ii. Acceptable human resource courses or computer
				courses must be related to assessment duties or functions of the tax assessor or the
				county board of taxation at the municipal, county, or State level.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 17 - ASSESSOR QUALIFICATION LAW › Subchapter 2 - ASSESSOR CONTINUING EDUCATION REQUIREMENTS AND BOARD COMPOSITION AND PROCEDURES › Section 18:17-2.5 - Continuing education forms

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Forms used for
				continuing education are as follows:
1. Form CEU-1,
				Assessor Certification Renewal Application, is submitted by a certificate holder to
				the Continuing Education Eligibility Board when he or she has obtained the total
				credit hours needed to renew his or her certification.
2. Form CEU-2, Continuing Education Sponsor
				Agreement, is submitted by a course sponsor to the Continuing Education Eligibility
				Board to apply for continuing education credits for a course, seminar, or program
				they are offering. This form must be submitted in advance, as set forth in N.J.A.C.
				18:17-2.6(a).
3. Form CEU-3, Uniform
				Request for Continuing Education Credit, is provided by the course sponsor to each
				attendee to verify attendance at each course, seminar, or program. Course sponsors
				must distribute this form at the conclusion of the course, seminar, or program.
				Attendees are required to retain this form to submit with their renewal
				application.
4. Form CEU-4, Attendance
				Record for Continuing Education, is the attendance record submitted by the course
				sponsor to the Continuing Education Eligibility Board after completion of the
				course, seminar, or program. Course sponsors must monitor the attendance of
				applicants at each approved course, seminar, or program. Course sponsors must also
				provide Form CEU-4 to the Division of Taxation within two weeks of the conclusion of
				the course, seminar, or program.
5. Form
				CEU-5, Participant Evaluation, is the participant evaluation completed by course
				attendees and submitted to the Continuing Education Eligibility Board by the course
				sponsor.
6. Form CEU-X, Assessor
				Certification Application for an Extension of Time to Complete Continuing Education,
				is the application to extend the time in which an applicant completes the continuing
				education requirements for good cause. Documentation supporting the request must
				accompany the application.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 17 - ASSESSOR QUALIFICATION LAW › Subchapter 2 - ASSESSOR CONTINUING EDUCATION REQUIREMENTS AND BOARD COMPOSITION AND PROCEDURES › Section 18:17-2.6 - Course approval procedures

Current through Register Vol. 56, No. 14, July 15, 2024
(a) All continuing
				education course providers are to secure Continuing Education Eligibility Board
				approval prior to advertising or otherwise representing that any course is approved
				for tax assessor continuing education credit in New Jersey. Approval is obtained by
				submitting the following:
1. Form CEU-2 is
				submitted at least 30 days before the course is scheduled to be held. No credits are
				given for a course where Form CEU-2 is submitted after the course is held;
2. A detailed description of the course content
				and estimated hours of instruction (one continuing education credit hour means 50
				minutes of classroom or lecture time);
3. Any printed material describing the
				course;
4. The name of the instructor(s)
				proposed to teach the course or seminar;
5. A curriculum vitae or resume of the
				instructor(s), including information concerning the specific background that
				qualifies the instructor(s) to teach the particular course offering; and
6. Any additional information, as may be requested
				by the Continuing Education Eligibility Board.
New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 17 - ASSESSOR QUALIFICATION LAW › Subchapter 2 - ASSESSOR CONTINUING EDUCATION REQUIREMENTS AND BOARD COMPOSITION AND PROCEDURES › Section 18:17-2.7 - Revocation or suspension of certificate; notice

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Procedures for the revocation of a tax
				assessor certificate for dishonest practices or willful failure are as follows:
1. The Director may revoke or suspend any tax
				assessor certificate for dishonest practices, or willful or intentional failure,
				neglect, or refusal to comply with the New Jersey Constitution and laws made
				pursuant thereto relating to the assessment and collection of taxes, or other good
				cause.
2. Such suspension or revocation
				as outlined in (a)1 above must be upon proper notice and after a formal hearing
				before the Director or person appointed by him or her. Any person with a revoked
				certificate will be removed from office, if applicable, and will not be eligible to
				hold that office for a period of five years after such removal. In such event the
				individual may apply to take the assessor exam and will be admitted to take the exam
				if they meet all of the statutory requirements.