A 3890
Requires municipal-wide reassessment of real property under certain circumstances.
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Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill requires New Jersey municipalities to conduct comprehensive, statewide reassessments of real property under specific circumstances. Currently, assessments are based on a true value standard, and this bill mandates that municipal assessors perform these reassessments when the ratio of assessed value to true value falls outside a range of 90% to 110%. Failure to maintain this ratio could lead to an assessor’s removal, and the bill establishes a timeline for initial and ongoing reassessments. It also updates provisions related to tax assessor qualifications and tenure.
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