Form CNC-1 (rev. 12-02) CERTIFICATION OF NEW CONSTRUCTION/ IMPROVEMENTS/ PARTIAL ASSESSMENTS (Chapter 68, P.L. 1976, as amended) MUNICIPALITY_________________________________ COUNTY_______________________________ FILE THIS REPORT WITH THE COUNTY BOARD OF TAXATION BY JANUARY 10 OF THE 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. _________________________________(1) 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. _________________________________ (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 3c 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 r________________________________(3)b (c) Pretax year base year value (enter on line 3c). ________________________________(3)c (revalued /reassessed municipality) 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. Local municipal purpose tax rate from prior year. ________________________________ (5) 6. Amount of permitted revenue increase - N.J.S.A. 40A: 4-45.2.(a) line 6 = line 4 r line 5. _____________________________________ $________________________________ (6) __________________________________ DATE MUNICIPAL ASSESSOR _____________________________________ __________________________________ DATE COUNTY TAX ADMINISTRATOR FOR COUNTY BOARD OF TAXATION USE ONLY ____________________________ Line 4 ÷ _______________________ % = _________________________ County Equalized Ratio* 20____ COUNTY TAX RATE (Year prior to current) COUNTY PORTION OF PERMITTED REVENUE INCREASE = Apportionment Value r _______________________ $ _________________________ 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. Line 1 is 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 add or deduct the total of any added assessment tax appeal increases from the total valuation. 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. 2. 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. 3. 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 Formula. Complete form CNC-2 (Itemized Breakdown Listing) using the appropriate codes for entry amounts and submit it with the CNC-1. 4. 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 3. 5. 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. 6. 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 tax rate from the year prior to the current tax year to arrive at the county portion of permitted revenue increase. DISPOSITION OF FORMS The assessor files the original and two copies of forms CNC-1 and CNC-2 with the county tax administrator by January 10 of each tax year, maintaining a copy of each for himself. The county board of taxation should supply copies of these forms. If there are no added assessments, partial assessments and new construction to report, the assessor must still file these forms entering the word “None” across the front of the forms. The county tax administrator keeps the original CNC-1 and CNC-2 forms and forwards one copy of each to the municipal financial officer and one copy of each to the Director of Local Government Services by January 31 of the tax year. The Director of the Division of Taxation has promulgated this form. It cannot be altered or amended without prior approval. American LegalNet, Inc. www.FormsWorkflow.com