New Jersey A3727 modifies the process for appealing assessed valuations of real property valued at $1,000,000 or more.

New Jersey A3727 amends the process for appealing assessed valuations of real property valued at $1,000,000 or more. The bill requires that if an appeal is filed with both the Tax Court and the county board of taxation, the county board must dismiss its appeal without prejudice. It also mandates that if a petition or complaint is filed on April 1 or within 19 days before April 1, the taxpayer or taxing district has 20 days to file a cross-petition or counterclaim. The bill takes effect immediately.

New Jersey A3727 modifies the process for appealing assessed valuations of real property valued at $1,000,000 or more.

New Jersey A3727 amends the process for appealing assessed valuations of real property valued at $1,000,000 or more. The bill requires that if an appeal is filed with both the Tax Court and the county board of taxation, the county board must dismiss its appeal without prejudice. It also mandates that if a petition or complaint is filed on April 1 or within 19 days before April 1, the taxpayer or taxing district has 20 days to file a cross-petition or counterclaim. The bill takes effect immediately.