New Jersey ACR122 proposes a constitutional amendment to allow a temporary property tax exemption for certain home improvements.
New Jersey ACR122 proposes a constitutional amendment to authorize a temporary property tax exemption for the value of certain home improvements. If approved by voters, the amendment would require the Legislature to enact a statute granting the exemption. Homeowners could claim the exemption for their principal residence, up to $100,000 of the assessed value of improvements, for no more than three consecutive tax years. The amendment would be subject to a vote at the next general election.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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