New Jersey § 54:3-26

§ 54:3-26.

The county board of taxation shall hear and determine all such appeals within three

months after the last day for filing such appeals, and shall keep a record of its

judgments thereon in permanent form, and shall transmit a written memorandum of its

judgments to the assessor of the taxing district and to the taxpayer, setting forth

the reasons on which such judgment was based, and in all cases where the amount of

tax to be paid shall be changed as the result of an appeal, to the collector of the

taxing district. The Director of the Division of Taxation shall prescribe such procedures and forms

for the setting forth of such written memorandums of judgments as may be necessary. Whenever any review is sought of the determination of the county board of taxation,

the complaint shall contain a copy of the memorandum of judgment of the county board. Where no request for review is taken to the Tax Court to review the action or determination

of the county board involving real property the judgment of the county board shall

be conclusive and binding upon the municipal assessor and the taxing district for

the assessment year, and for the two assessment years succeeding the assessment year,

covered by the judgment, except as to changes in value of the property occurring after

the assessment date. The conclusive and binding effect of such judgment shall terminate with the tax year

immediately preceding the year in which a program for a complete revaluation or complete reassessment of all real property within the district has been put into effect. If as of October 1 of the pretax year, the property in question has been the subject

of an addition qualifying as an added assessment, a condominium or cooperative conversion,

a subdivision or a zoning change, the conclusive and binding effect of such judgment

shall terminate with said pretax year. If the assessor increases the assessment or fails to reflect on the tax duplicate

a county board of taxation or Tax Court judgment issued prior to the final preparation

of the tax duplicate in either of the two years following the year for which the judgment

of the county board was rendered, and if said judgment is a final judgment not further

appealed, the burden of proof shall be on the taxing district to establish that the

assessor acted reasonably in increasing the assessment. If the county board finds that the assessor did not act reasonably in increasing

the assessment or failed to reflect said judgment on the tax duplicate, the county

board shall award to the taxpayer reasonable counsel fees, appraisal costs and other

costs which shall be paid by the taxing district.