New Jersey ACR127 proposes a constitutional amendment to limit annual increases in the assessed value of real property.
New Jersey ACR127 proposes a constitutional amendment to limit annual increases in the assessed value of real property. The amendment would require the Legislature to enact laws to provide this limitation. The laws would require real property to be assessed as of October 1 next following the approval of this amendment by the voters. The laws would then limit annual increases in the assessed value of real property to no more than two percent of the assessed value from the prior year.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.