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NJ ACR122
Concurrent Resolution
Status
2/19/2026
Primary Sponsor
Louis Greenwald
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AI Summary
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Proposes amending the New Jersey Constitution to require the Legislature to enact a temporary property tax exemption for homeowners who make improvements to their principal residence.
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The exemption would apply to the increased assessed value resulting from taxable improvements, capped at $100,000 in assessed value.
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Homeowners could claim the exemption for a maximum of three consecutive tax years, after which the full assessed value would be taxed.
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The amendment would be placed on the ballot at the next general election occurring more than three months after legislative approval for voter consideration.
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Sponsored by Assemblyman Louis D. Greenwald (District 6, Burlington and Camden) and introduced February 19, 2026.
Legislative Description
Proposes constitutional amendment to authorize temporary property tax exemption for value of certain homestead improvements.
State and Local Government
Last Action
Introduced, Referred to Assembly State and Local Government Committee
2/19/2026