N.J. Admin. Code § 18:24-7.6
Current through Register Vol. 56, No. 9, May 6, 2024
Where, because of affiliation of interests between the seller and purchaser, or for any other reason, the purchase price stated for a motor vehicle is not indicative of the fair market value of the property and the purchaser is unable to prove that a lower price was paid, the Director may, at his or her discretion, utilize external indices to establish the fair market value of such property, which shall form the basis upon which tax shall be assessed and paid.
N.J. Admin. Code § 18:24-7.6