New Jersey § 54:4-35
Full text of New Jersey New Jersey Statutes § 54:4-35, with citation guidance and answers to common questions.
§ 54:4-35.
a. When any parcel of real property contains any building or other structure which
has been destroyed, consumed by fire, demolished, or altered in such a way that its
value has materially depreciated, either intentionally or by the action of storm,
fire, cyclone, tornado, or earthquake, or other casualty, which depreciation of value
occurred after October 1 in any year and before January 1 of the following year, the
assessor shall, upon notice thereof being given to him by the property owner prior
to January 10 of that year, and after examination and inquiry, determine the value
of such parcel of real property as of that January 1, and assess the same according
to such value. b. (1) In the case of a county participating in the demonstration program established
by section 4 of P.L.2013, c. 15 ( C.54:1-104 ), a county operating under the “Property Tax Assessment Reform Act,” P.L.2009, c. 118 ( C.54:1-86 et seq. ), and a county that has adopted, by resolution, the provisions of section 1 of P.L.2018, c. 94 ( C.54:1-105 ), when any parcel of real property contains any building or other structure which has
been destroyed, consumed by fire, demolished, or altered in such a way that its value
has materially depreciated, either intentionally or by the action of storm, fire,
cyclone, tornado, or earthquake, or other casualty, which depreciation of value occurred
after October 1 in any year and before May 1 of the following year, the assessor shall,
upon notice thereof being given to him by the property owner prior to May 3 of that
year, and after examination and inquiry, determine the value of the parcel of real
property as of that May 1, and assess the same according to such value within the
final tax list delivered to the county board of taxation on or before May 5 of that
year. (2) To properly capture the value of the building or structure from January 1 to the
date of the depreciation of the building or structure, the assessor's added assessment list shall include an improvement value that reflects the prorated value of the building
or structure as of January 1 for the number of days prior to the date of the depreciation
of the building or structure.
Frequently Asked Questions About New Jersey § 54:4-35
What does New Jersey Statutes § 54:4-35 cover?
Section 54:4-35 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 54:4-35?
A common citation format is "New Jersey Statutes § 54:4-35" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 54:4-35 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.