New Jersey Assembly Bill ACR14

New Jersey 2022-2023 Regular Session

• Introduced: 1/11/22
• Refer: 1/11/22

Caption

Provides for special session of Legislature to consider property tax relief and reform.

Impact

If passed, ACR14 would require the presiding officers of both houses of the Legislature to convene a special session within seven days to specifically consider property tax relief measures. This session would be solely focused on devising solutions and implementing reforms to facilitate relief from the high property taxes affecting residents across New Jersey. The expectation is that specific bills addressing these issues would be proposed and voted on during this session, providing a platform for both legislative leaders and constituents to voice their concerns and suggestions regarding tax reform.

Summary

ACR14 is a concurrent resolution introduced in the New Jersey Legislature aimed at addressing the urgent issue of property tax relief and reform. As outlined in the resolution, New Jersey's property taxes are among the highest in the United States, placing a substantial financial burden on residents, particularly impacting the elderly, young families, and low-income individuals. The bill highlights the inequities in the current system, particularly in how school funding is applied, necessitating a dedicated legislative response to alleviate these taxes that are seen as stifling the state's economy and home ownership potential.

Contention

Debate over ACR14 may revolve around differing opinions on the effectiveness and fairness of potential property tax reforms. Supporters may argue that immediate action is needed to provide relief to families struggling under the weight of high taxes, while opponents could express concerns about the implications of reform measures on funding for public services such as education and safety. The proposed special session indicates an acknowledgment of the urgency surrounding property tax issues, potentially setting the stage for contentious discussions regarding the best way to approach reform in a manner that balances tax relief with sustained public funding.