New Jersey § 54:1-35

§ 54:1-35.

The director and the governing body of a municipality which has undertaken a revaluation

may allow revaluation relief abatements for eligible properties as hereinafter provided: a. On or before April 15 of the revaluation year for municipalities operating on the

January 1 to December 31 fiscal year, or one week following the date established by

law for the adoption of the municipal budget for municipalities operating on the State

fiscal year, whichever is appropriate, the governing body of the municipality shall

conduct a revaluation management analysis; provided, however, that a municipality

which has conducted a revaluation that has not yet been used as the basis for a tax

billing as of the effective date of this act may undertake the revaluation management

analysis without regard for the deadline established herein. The governing body shall, at the same time, notify the county board of taxation

of the county in which the municipality is situated of its intention to conduct a

revaluation management analysis. b. Within three days of filling out the Table of Aggregates for the county, the county

board of taxation shall transmit to each municipality which has notified the county

board of taxation of its intention to conduct a revaluation management analysis certified

copies of the assessor's duplicate for the revaluation year and the base year and

include a certified copy of the Table of Aggregates for the municipality. c. Upon receipt of the assessor's duplicates and Tables of Aggregates, as provided

in subsection b. of this section, and the certified copy of the Table of Aggregates

from the county treasurer, as provided in R.S.54:4-52 , the municipality shall prepare a revaluation management analysis as soon as practicable

thereafter. d. After review of the revaluation management analysis, the governing body of the

municipality may determine, by ordinance, to implement a revaluation phase-in program. That ordinance also shall contain a listing of the areas within the municipality

declared in need of rehabilitation in accordance with subsection l. of section 3 of

this act. 1 A listing, by block and lot, shall be available for public inspection in the office

of the municipal assessor immediately following adoption of the ordinance. e. Upon the adoption of an ordinance pursuant to subsection d. of this section, the

governing body shall immediately notify and transmit certified copies of the ordinance

to the director and the county board of taxation. In addition, notwithstanding the provisions of R.S.54:4-64 , the governing body shall direct the collector of the taxing district not to prepare

and deliver any tax bills until the county board of taxation has prepared and delivered

a revised tax duplicate for the municipality. Any collector so directed shall prepare and mail, or otherwise cause to be delivered,

a statement to the individuals assessed and, if so authorized, to any mortgagee or

other agent in substantially the following form: “The governing body of (municipality)

has determined to phase in tax increases associated with the recently completed revaluation. Your tax bill incorporating the phase-in will be forthcoming.” 1

N.J.S.A. § 54:1-35.41.