N.J. Admin. Code § 18:12-4.2

Current through Register Vol. 56, No. 21, November 4, 2024

Section 18:12-4.2 - Authority of the Director; approval of contracts

(a) The Director shall establish standards for use in the valuation and revaluation of real property for assessment purposes, and shall prescribe minimum qualifications for engaging in the business of providing such services to municipalities in this State.

(b) Prior to the execution of any contract, a municipality shall submit the contract to the Director for review. The Director shall make a determination within 30 days of submission for revaluation contracts and within 45 days of submission for reassessment contracts.

(c) No firm shall assign or transfer a contract or any interest therein without written permission from the municipality, surety company, county board of taxation, and the Director.

(d) No changes will be permitted in the contract except upon mutual consent of the contractual parties and written permission of the surety company and the Director.

N.J. Admin. Code § 18:12-4.2

Amended by 50 N.J.R. 664(a), effective 1/16/2018