Establishes a commission to study and recommend reforms to New Jersey's property tax system.

The bill establishes the "New Jersey Commission to Reform the Assessment and Taxation of Residential Real Property." This commission will study the property tax system in New Jersey, including assessment and collection methods, and identify ways to reduce the burden on residential property owners. The commission will recommend amendments to the New Jersey Constitution and revisions to statutory law to eliminate inequities, ensure uniformity, reduce property taxes, and lessen local government dependence on property taxes.

Establishes a commission to study and recommend reforms to New Jersey's property tax system.

The bill establishes the "New Jersey Commission to Reform the Assessment and Taxation of Residential Real Property." This commission will study the property tax system in New Jersey, including assessment and collection methods, and identify ways to reduce the burden on residential property owners. The commission will recommend amendments to the New Jersey Constitution and revisions to statutory law to eliminate inequities, ensure uniformity, reduce property taxes, and lessen local government dependence on property taxes.