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NJ ACR189
NJ ACR189Proposes constitutional amendment to allow lower property tax rate on improvements than on land.
summary
Introduced
12/04/2023
12/04/2023
In Committee
12/04/2023
12/04/2023
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
This resolution proposes a constitutional amendment requiring the Legislature to allow certain municipalities to tax improvements at a lower rate than land. An improvement refers to a building or other man-made condition. Property taxes in New Jersey are collected by municipalities, and are used to fund county, school, municipal, and other local needs. Currently, municipalities are required to apply a single value-based tax rate to both land and improvements. This constitutional amendment directs the Legislature to enact general laws allowing municipalities to adopt ordinances under which improvements are taxed at a lower rate than land. The Legislature may allow all municipalities to participate, or limit participation to municipalities in need of infrastructure investment, according to standards established by the Legislature. The implementing legislation will permit participating municipalities to phase-in the changes over a period of years. The implementing legislation will also establish a method permitting a municipality to return to a single property tax rate system.
AI Summary
This Concurrent Resolution proposes a constitutional amendment in New Jersey that would allow the state Legislature to permit municipalities to tax "improvements" – which are defined as buildings or other man-made additions to land – at a lower rate than the land itself. Currently, New Jersey municipalities must apply a single property tax rate to both land and improvements, and this revenue funds local services like schools and infrastructure. The amendment would direct the Legislature to create laws enabling municipalities to adopt ordinances for this "dual tax rate" system, potentially limiting which municipalities can participate based on needs like infrastructure investment. These laws would also allow participating municipalities to gradually implement the new rates over time and provide a way for them to revert back to the single tax rate system if they choose.
Committee Categories
Government Affairs
Sponsors (2)
Last Action
Introduced, Referred to Assembly State and Local Government Committee (on 12/04/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/ACR189 |
| BillText | https://pub.njleg.gov/Bills/2022/ACR/189_I1.HTM |
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