Which of the following statements is true regarding conflicts of interest with revaluation firms?

The accurate statement regarding conflicts of interest with revaluation firms is that no employee of the County Board of Taxation (CBT) can have any interest in the firm. This is essential in maintaining integrity and public trust in the tax assessment process. When employees of the CBT have financial interests in a revaluation firm, it could lead to biased decision-making, favoritism, or unethical conduct that undermines the fair treatment of all taxpayers and the credibility of the assessment process.

Ensuring that employees remain free from any financial ties to these firms helps to uphold transparency and fairness in property assessments and tax appraisals. Other options presented, while addressing considerations of interest and disclosures, do not align with the strict regulations that govern the relationships between revaluation firms and tax assessors that aim to prevent conflicts of interest.