N.J.A.C. 18:12-4.4 - Appraisal Firm: Required Information to Be Submitted

(a) An appraisal firm seeking approval from the Director to become a New Jersey revaluation firm shall submit the following information annually:

1. Financial statements, including balance sheets and income statements for the past three years;

2. A list of municipalities both in and outside New Jersey where the revaluations were performed during the past five years;

3. The names and addresses of the officers and the number of years each officer has been engaged in real property valuation;

4. A statement of whether any litigation involving the firm's performance or revaluation contract occurred during the past five years, and a detailed explanation of the nature of such litigation and the results;

5. Any additional information the Director considers pertinent to determine whether the firm has adequate staff and resources to undertake a municipal valuation project;

6. A written statement asserting that the firm shall meet State and Federal requirements with respect to Equal Employment Opportunity laws and minimum wage rates;

7. The names and addresses of the firm's parent corporation and subsidiaries, if any;

8. A copy of the appraisal license or certification for all principals of the firm and/or supervisors employed by the firm and who will be responsible for performing appraisals;

9. The nature and extent of professional appraisal work the firm has performed and the total number of staff currently employed and their titles;

10. A breakdown of general staff resources of the firm with regard to field/building enumerators and clerical office personnel

11. An indication that the firm is able to secure a surety bond for the completion of revaluation work performed under contract; and

12. A list of all owners, officers, principals, supervisors, employees, contractors, or other persons associated with the firm who possess a Tax Assessor Certificate (CTA).