N.J.A.C. 18:12-3.1 - Tax Exempt List, Taxable Personal Property List, and Railroad Property List; Format and Contents
(a) Assessors are required to enter on the exempt property list and duplicate, in the form and content prescribed by the Director of the Division of Taxation, a description of all churches, cemeteries, public buildings, and other real property exempt from taxation with the owner's name and the value of such land and buildings.
(b) The size of the exempt property list and duplicate should be at a minimum 8 1/2 inches by 11 inches and consist of 14 line items per page.
- Page headings:
i. Title: "EXEMPT PROPERTY LIST": An identical list shall also be prepared as the assessor's duplicate;
ii. Page number;
iii. Taxing district name and number; and
iv. County name and number.
- Column headings: The following headings shall appear on the exempt property list.
i. Column 1--Line number: This column assigns a line number to a particular parcel or property for identification purposes.
ii. Column 2--Block number, lot number, qualification code, and account number: Insert the block and lot number of the parcel and the qualification code if any. Qualification codes are shown on the exempt property tax list under the legend. Enter the account number, if used, in this column.
iii. Column 3--Name of facility: Insert building description code, property classification, land dimensions, acreage, and additional lots.
iv. Column 4--Owner's name: Insert the owner's full name and mailing address, the property location by street name and number, billing code, zoning, and the tax map page.
v. Column 5--Identification code: Use the code as shown in the New Jersey Property Tax System Legend by the Division of Taxation. Insert the two digits that denote ownership. Insert the two digits that denote the property purpose or use. Also, insert the three digits that denote specific description.
vi. Column 6--Statute pursuant to which exemption claimed: Assessors are required pursuant to N.J.S.A. 54:4-27 to state the reasons for exemption for each property to which a tax exemption is allowed. The statute pursuant to which an exemption is allowed can be found on Line 6 of a properly executed Initial Statement Form, Form I.S.
vii. Column 7--Filing date of statement: Insert the date on which the initial statement and/or further statement was filed with the assessor's office. A further statement, Form F.S., is required to be filed every third year following the filing of an initial statement to continue receiving the exemption. (See N.J.S.A. 54:4-4.4.)
viii. Column 8--Land value and improvement value: Insert the true value of the land and true value of improvements to which an exemption is granted. These values should be consistent with full values of other real property in the taxing district in the event the exemption is lost and the property is returned to taxable status.
ix. Column 9--Total exempt value: Insert in this column the sum of the land and improvement values in column 8. The total of all exempt property should agree with the total exempt property as shown in the table of aggregates that is filed with the county board of taxation.
x. Column 10--Special tax codes: Insert the special tax code as found in the MOD IV User Manual.
(c) Assessors are required to enter on the railroads property tax list and duplicate, in the form and content prescribed by the Director of the Division of Taxation, a description of all railroad property with the owner's name and the value of such land and buildings.
(d) The size of the railroad property list and duplicate should be, at a minimum, 81/2 inches by 11 inches and consist of 14 line items per page.
- Page headings:
i. Title: "RAILROAD PROPERTY LIST": An identical list shall also be prepared as the assessor's duplicate;
ii. Page number;
iii. Taxing district name and number; and
iv. County name and number.
- Column headings: The headings for the railroad property list shall be the same as the first nine columns of the real property tax list provided at (b)2i through ix above.
(e) Assessors are required to enter on the taxable personal property list and duplicate list, in the form and content prescribed by the Director of the Division of Taxation, a description of all taxable business personal property with the owner's name and the value of such land and buildings.
(f) The size of the taxable personal property list and duplicate should be, at a minimum, 8 1/2 inches by 11 inches and consist of 14 line items per page.
- Page headings:
i. Title: "TAXABLE PERSONAL PROPERTY LIST": An identical list shall also be prepared as the assessor's duplicate;
ii. Page number;
iii. Taxing district name and number; and
iv. County name and number.
- Column headings: The following headings shall appear on the taxable personal property list:
i. Column 1--Line number: This column assigns a line number to a particular parcel of property for identification in billing and other purposes. Each line must be consecutively numbered on every page.
ii. Column 2--Block number, lot number, qualification code, and account number: Insert the parcel block and lot number and the qualification code, if any. Qualification codes are shown on the real property tax list in the legend. Enter the account number, if used, in this column.
iii. Column 3--Property description and class: Insert a description of the property and its classification, pursuant to N.J.A.C. 18:12-2.2.
iv. Column 4--Owner's name: Insert owner's name, mailing address, zip code, and property location.
v. Column 5--Reported depreciated book value: Insert the depreciated book value as reported by the taxpayer on the annual return filed with the assessor, pursuant to N.J.S.A. 54:4-2.48.
vi. Column 6--Average assessment ratio: Insert the appropriate ratio of assessed to true value for the taxing district. If the municipality has undergone a district-wide valuation program for the current tax year, enter the county percentage level of assessments. If the municipality has not undergone a district-wide valuation program, insert the lesser of the county percentage level or the Director's average ratio determined, pursuant to N.J.S.A. 54:1-35.1 et seq.
vii. Column 7--Taxable value of tangible personal property: Insert the total of column 5 multiplied by column 6.