Director's Ratio for RTF1 and RTF1EE

by Nancy L. Koch, Esq., Land America, Published 9/1/2006

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Many offices and attorneys are using the County Equalization-Average Ratio figures from the New Jersey Lawyers Diary (the second column on pages 252-255) to prepare the Equalization Calculations required on the RTF-1 and RTF-1EE forms rather than obtaining those figures from the Division of Taxation's website. (This is the "Director's Ratio" portion of the calculation.) Please be advised that the County Equalization-Average Ratio figures in the NJ Lawyers Diary do not all match those on the Division of Taxation's website (some counties match; some do not).

It is recommended that whenever the Equalization Calculation is to be completed on the RTF-1 and RTF-1EE, you and your clients obtain the appropriate figures from the Division of Taxation's website, http://www.state.nj.us/treasury/taxation/lpt/lptvalue.htm rather than from the Lawyers Diary.

As always, feel free to contact a member of our underwriting staff with any questions you may have.