Proposes constitutional amendment to allow lower property tax rate on improvements than on land.

ACR 95 proposes a constitutional amendment to allow New Jersey municipalities to tax property improvements (like buildings) at a lower rate than land, currently subject to a single tax rate. If approved, the Legislature would create general laws enabling municipalities - potentially limited to those needing infrastructure investment - to adopt ordinances with dual tax rates. These laws would permit local flexibility in setting the rate difference, phased implementation of changes, and the option to revert to a single tax rate. The amendment requires voter approval at the next general election following constitutional passage.