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APP.COM $1.00
MONDAY 10.12.15
How a new assessment program boosted
profits for companies while draining your wallet
THE TAX
Matthew Clark
is Monmouth
Countys tax
administrator. He
created the Assessment Demonstration Program
(ADP) and wrote
most of the law
that created the
program. He
oversees its rollout in the county.
Daniel Kelly
was a Monmouth County
tax board commissioner from
2005 to 2013.
He became an
owner of Realty
Data Systems
LLC four
months after
his final tax
board meeting.
Michael Panter
is Kellys childhood friend
and one of the
original three
owners of
Realty Data
Systems, the
company that is
receiving much
of the revaluation business
related to ADP.
William
FitzPatrick
is Wall Townships municipal tax assessor. He is also
a part-owner
of Value
Added Systems LLC, a
subcontractor
for Realty
Appraisal Co.
THOMAS P. COSTELLO/STAFF PHOTOGRAPHER/ASBURY PARK DESIGN STUDIO ILLUSTRATION
Brick police
chief retiring,
will receive
$58K payout
WINDFALL
Scott Imbriaco
is Tinton Falls
municipal tax
assessor. He is a
part-owner of
Value Added
Systems, a subcontractor for
Realty Appraisal
Co.
George
Snedden is
Matt Clarks
father-in-law.
He is coowner of
Value Added
Systems with
FitzPatrick
and Imbriaco.
Value Added
Systems takes
photographs of
buildings for
Realty Appraisal
Co. Value Added
Systems is owned
by FitzPatrick,
Imbriaco and
Snedden.
Realty Appraisal
Company is the
Rubensteins
property appraisal company. It has
won all but two
of the revaluation
contracts required under
ADP.
Sources: New Jersey Department of Treasury records; Assessment Demonstration Program contracts from all 53 Monmouth County municipalities; Asbury Park Press research
gram, or ADP, through a complex web of personal and business relationshipsand clauses
in bid requirements that stymied competition. h For taxpayers, it has become effectively
a double assault on their wallets: They not only have to endure new assessments that lead
companies won contracts for the new system, called the Assessment Demonstration Pro-
to unexpected, higher property tax bills, they are now paying millions of dollars to implement the program across 48 of the countys 53 municipalities.
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VOLUME 136
NUMBER 244
SINCE 1879