Establishes a Property Tax Study Commission to examine New Jersey's property tax structure and develop recommendations for reducing residential.

The bill establishes a 15-member Property Tax Study Commission within the Department of the Treasury. The commission is tasked with examining the property tax system in New Jersey and identifying ways to reduce the property tax burden on residents. It may review statutes, regulations, and ordinances governing property taxes, and consider pending and proposed bills. The commission will issue an interim report within nine months and a final report within 12 months of its organization. The commission will expire 60 days after a public hearing in the fifth year following the final report.

Establishes a Property Tax Study Commission to examine New Jersey's property tax structure and develop recommendations for reducing residential.

The bill establishes a 15-member Property Tax Study Commission within the Department of the Treasury. The commission is tasked with examining the property tax system in New Jersey and identifying ways to reduce the property tax burden on residents. It may review statutes, regulations, and ordinances governing property taxes, and consider pending and proposed bills. The commission will issue an interim report within nine months and a final report within 12 months of its organization. The commission will expire 60 days after a public hearing in the fifth year following the final report.