Municipal-Wide Revaluation of Real Property

The Borough of New Providence is seeking proposals from New Jersey Approved Revaluation Firms to conduct a municipal-wide revaluation of all real property within the borough. The primary goal is to prepare and execute a complete program for the revaluation of all properties within the municipal boundaries. Revaluation Firms submitting proposals must be on the State of New Jersey’s Approved Revaluation Firm List. Proposals should be submitted to the Borough Clerk’s Office, 360 Elkwood Avenue, New Providence, NJ 07974 by 10am on Wednesday, May 14, 2025. The RFP outlines specific requirements for the proposals, including the submission of a list of municipalities where revaluations have been performed, resumes of key personnel, a proposed project schedule, and disclosure of any conflicts of interest. The RFP also specifies qualifications for principals and employees of the appraisal firm, conditions to be met by the Borough, and a schedule of work required. Furthermore, the RFP specifies procedures to be followed during the course of the revaluation project and performance standards for the valuation of the property. The selected respondent will be required to execute the Borough's form contract, which includes indemnification, insurance, termination, and licensing provisions. Respondents should submit a cost proposal that includes proposed retainer, services for the retainer, if services will be provided at a flat rate, if all or any services will be billed through hourly rates and a statement of the established rate(s). A complete listing of hourly charges for members of the firm shall be provided. The BORO does not provide payment for reimbursement for travel expenses. Proposals will be reviewed based on the relevance and extent of proposals, experience, reputation and training of personnel to be assigned, knowledge of the Borough, relevance of similar engagements performed, completeness of the proposal, and reasonableness of cost.