What authority governs property tax assessments in New Jersey?

In New Jersey, property tax assessments are governed by the New Jersey Division of Taxation. This authority is responsible for overseeing property tax assessments and ensuring compliance with state tax laws. It provides guidance and regulations that local assessors must follow when appraising property values, thereby maintaining a standardized system across the state.

The Division of Taxation plays a crucial role in administering property tax law, including evaluating local property tax assessments and collecting relevant statistics to facilitate fair taxation. This centralization helps ensure that property assessment practices are aligned with state policies, promoting equity in property taxation.

In contrast, the other entities mentioned, such as the Division of Revenue and the Department of Treasury, focus on different aspects of the state's financial operations, such as revenue collection and state budget management. The Office of Property Management may be involved in the management of property owned by the state but does not have direct authority over property tax assessments.