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New Jersey Statutes, Title: 54, TAXATION

    Chapter 1: State tax department continued; "department" defined

      Section: 54:1-35a: Definitions

           a. The "average ratio" of assessed to true value of real property for a taxing district for the purposes of this act shall mean that ratio promulgated by the Director of the Division of Taxation pursuant to P.L.1954, c. 86 (C. 54:1-35.1 et seq.), as of October 1 of the year preceding the tax year, as revised by the tax court.

b. The "common level range" for a taxing district is that range which is plus or minus 15\% of the average ratio for that district.

L.1973, c. 123, s. 1, eff. May 9, 1973. Amended by L.1979, c. 51, s. 1, eff. March 21, 1979; L.1983, c. 36, s. 10, eff. Jan. 26, 1983.



This section added to the Rutgers Database: 2012-09-26 13:37:56.






Older versions of 54:1-35a (if available):



Court decisions that cite this statute: CLICK HERE.