Certification Of New Construction Improvements Partial Assessments {CNC-1}

Form CNC-1 (rev. 2-12) CERTIFICATION OF NEW CONSTRUCTION/ IMPROVEMENTS/ PARTIAL ASSESSMENTS (Chapter 68, P.L. 1976, as amended) (check one below) TAX YEAR ____________________________ COUNTY______________________________ MUNICIPALITY_________________________ _____ REVALUATION _____ REASSESSMENT _____ NON-REVALUED/REASSESSED FILE THIS REPORT WITH THE COUNTY BOARD OF TAXATION BY JANUARY 10 OF TAX YEAR 1. Total valuation of new construction and improvements (not prorated) from the Added Assessment List filed on the preceding October 1 minus the total valuation of any added assessment tax appeal reductions. Do not include omitted added assessments, prior year added assessments, omitted assessments, or property transferred from the exempt list to the taxable list, or any land, whether subdivided or not. 2. Total valuation of new construction and new partial assessments from the current year's tax list, not recorded as prior year AA, Omitted, or OA. This amount is exclusive of the amount reported in line 1. Enter this amount on line 2 if a non-revalued/ reassessed district in the current tax year and complete form CNC-2. _______________________________ (1) ________________________________ (2) (non-revalued/ reassessed municipality) 3. FOR COMPLETION BY REVALUATION / REASSESSMENT DISTRICT ONLY: (a) Total valuation of new construction and new partial assessments from the current year's tax list, except amounts included in the Added Assessment List. Enter this amount on line 3a if a revalued/reassessed district in the current tax year. Complete form CNC-2. (b) Director's Ratio from Oct. 1 of preceding year (enter on line 3b). _______________________________ (3)a _______________________________ (3)b _______________________________ (3)c (revalued /reassessed municipality) (c) Pretax year base year value (enter on line 3c). 4. Increase in valuations based on new construction and improvements. Non-revalued/ non-reassessed municipalities, lines 1 + 2 = 4. Revalued / reassessed municipalities, lines 1 + 3c = 4. _______________________________ (4) _______________________________ (5) 0.00 5. Local municipal purpose tax rate from prior year. 6. Amount of permitted revenue increase - N.J.S.A. 40A: 4-45.2(a) line 6 = line 4 line 5. _____________________________________ DATE $_______________________________ (6) __________________________________ MUNICIPAL ASSESSOR _____________________________________ DATE __________________________________ COUNTY TAX ADMINISTRATOR FOR COUNTY BOARD OF TAXATION USE ONLY ____________________________ Line 4 ÷ _______________________ % = _________________________ County Equalized Ratio* Apportionment Value _______________________ $ __________________________ 20____ COUNTY APPORTIONMENT RATE COUNTY PORTION OF PERMITTED REVENUE INCREASE = *Ratio established for district in year prior to current year pursuant to N.J.S.A. 54:3-18. The County Equalized Ratio means the ratio used in the final certified county equalization table that the county board of taxation confirms in March of the prior year pursuant to N.J.S.A. 54:3-19. American LegalNet, Inc. www.FormsWorkFlow.com INSTRUCTIONS FOR COMPLETION OF FORM CNC-1 1. In top right-hand corner, check off whether currently filed assessment list reflects a revaluation program, reassessment program, or if the municipality is a non-revalued/non-reassessed taxing district. Enter on Line 1 the total valuation (not prorated) of new construction and improvements from the Added Assessment List filed on the previous October 1 minus the total of any added assessment tax appeal reductions. Do not include adjustments, additions or deductions from regular tax appeals. Do not include omitted added assessments, prior year added assessments, omitted assessments, or property that was transferred from the exempt list to the taxable list. Also, do not include any land, subdivided or not, on this form. Line 2 is the total valuation of new construction and new partial assessments from the current year's tax list, except amounts included in the Added Assessment List. Line 2 is to be used in a non-revalued/ reassessed district. In the case of partial assessments, include the incremental addition made to property subject to a partial assessment in the previous year. Construction completed after October 1 and prior to January 1 of the current year cannot be placed on the current year's regular tax list because statutory provisions mandate that the assessor should place those values on the upcoming Added Assessment List filed on October 1 for the prior year. Therefore, such construction would not be reflected on the CNC-1. Complete form CNC-2 (Itemized Breakdown Listing) and submit it with form CNC-1. Use the appropriate codes for entry amounts on the CNC-2. If the current year tax list reflects a revaluation or reassessment program, enter the amount outlined in instruction #2 above on line 3(a). Do not enter this amount on line 2. Lines 3(a), 3(b) and 3(c) convert the total of any new construction and partial assessments to a value that would have been equivalent in the year prior to the revaluation or reassessment. Multiply the total of any new construction and partial assessments by the Director's Ratio from October 1 of the preceding year for the subject municipality. Do not use the Page 8 Ratio. Complete form CNC-2 (Itemized Breakdown Listing) using the appropriate codes for entry amounts and submit it with the CNC-1. The line 4 amount represents the sum total of new construction and improvement valuations as prescribed in N.J.S.A. 40A:4-45.2.(a). In non-revalued and non-reassessed municipalities, line 4 must equal the sum total of lines 1 and 2. In revalued or reassessed municipalities, line 4 must equal the sum total of lines 1 and 3c. Line 5 is for entering the actual local municipal purpose tax rate as certified by the county board of taxation for the tax year immediately prior to the current tax year. Line 6 is the result of multiplying line 4 by line 5. The county tax administrator then completes the lower section of the CNC-1. Enter the total from line 4, divide this amount by the county equalization table ratio for the subject municipality divided by 100 (example: .44 = .0044) in order to compute the apportionment value pursuant to N.J.S.A. 54:3-18. The apportionment value is multiplied by the county apportionment rate from the year prior to the current tax year to arrive at the county portion of permitted revenue increase. DISPOSITION OF FO