Understanding Special Improvement Districts and Vacant Property Registrations in New Jersey

Explore the concept of Special Improvement Districts (SIDs) in New Jersey and how they impact property assessments and economic development in municipalities like Plainfield, Livingston, and more. Learn about the process of creation, billing, and enforcement of SIDs, as well as their impact on third-party searches. Additionally, delve into the issues surrounding Vacant Property Registrations (VPRs), including contracting with private companies, lack of uniformity, legality concerns, and taxing authority. Join the discussion at the 55th Annual Spring Conference on May 17, 2022, featuring experts in the field.

• Special Improvement Districts
• SIDs
• Vacant Property Registrations
• New Jersey
• Economic Development

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1. TCTNJ 55THANNUAL SPRING CONFERENCE Special Improvement Districts (SIDs) & Recently Enacted P.L. 2021 Chapter 444 Vacant Property Registrations (VPRs) Tuesday, May 17, 2022 Keith Bonchi, Esq. Jerry Viturello, C.T.C Cynthia A. McBride, C.T.C.

2. SPECIAL IMPROVEMENT DISTRICTS Jerry Viturello, C.T.C & Cynthia A. McBride, C.T.C.

3. SPECIAL IMPROVEMENT DISTRICTS WHAT ARE THEY & WHO HAS THEM? In accordance with N.J.S.A. 40:56-65 to 89 a special improvement district" means an area within a municipality designated by municipal ordinance as an area in which a special assessment on property within the district shall be imposed for the purposes of promoting the economic and general welfare of the district and the municipality Various municipalities in NJ; Plainfield, Livingston, Toms River, Newark, Hoboken and Millburn Different billing types: Livingston sends out separate bills due 2x a year whereas Toms River sends bills out on tax bills due 4x a year

4. SPECIAL IMPROVEMENT DISTRICTS THE PROCESS Creation Billing Collection Enforcement

5. SPECIAL IMPROVEMENT DISTRICTS IMPACT ON THIRD-PARTY SEARCHING Standard: Flagged in data file May require follow-up for additional billing details Items are detailed on our searches as they are subject to tax sale Tracking and reporting is routine; SIDs are not necessarily new SIDs cause few major issues since Tax Collectors very effectively manage the records and details

6. VACANT PROPERTY REGISTRATION Keith Bonchi, Esq. & Cynthia A. McBride, C.T.C.

7. VACANT PROPERTY REGISTRATIONS WHAT WERE THE ISSUES? Contracting to Private Companies Lack of Uniformity Question of Legality Taxing Authority

8. VACANT PROPERTY REGISTRATIONS OVERVIEW OF NEW LEGISLATION New legislation has answered all the questions and provided a framework Only applies to foreclosures (residential and commercial) not lien foreclosures Municipal Ordinance for VPRs Allowable fees for VPRs Enforcement of VPRs

9. VACANT PROPERTY REGISTRATIONS IMPACT ON THIRD-PARTY SEARCHING Legislation impacted the level of data we must collect Previously offered VPR details but the data was limited and provided for informational purposes only New Legislation determined VPR charges to be eligible for tax sale, and our deeper data collection efforts reflect that change VPR fee amount(s) will be listed on our search