If the general coefficient of deviation exceeds what percentage, can a revaluation be ordered?

In New Jersey, the general coefficient of deviation is a critical metric used in the assessment process. The coefficient of deviation measures the consistency and accuracy of assessed values compared to the actual market values. When this coefficient exceeds a specific threshold, it indicates significant discrepancies in property assessments, which can undermine the equity of the taxation system.

In this context, a general coefficient of deviation exceeding 15% can trigger the need for a revaluation. This threshold is significant because it reflects a level of inconsistency that could lead to unfair taxation practices. A revaluation ensures that property assessments are brought in line with market values, thereby promoting fairness and equity among taxpayers.

While other percentages such as 10%, 20%, or 25% represent other levels of deviation, they do not trigger the same requirement for revaluation as the 15% threshold does. Therefore, this percentage is key in ensuring that assessments remain accurate and equitable, aligning with the principles of property taxation.