Concerns appeals of assessed valuation of real property of $1,000,000 or more.

This bill modifies New Jersey's property tax appeal process for properties valued at $1,000,000 or more. It allows property owners and taxing districts to file appeals directly with the State Tax Court instead of the county board of taxation, with deadlines tied to assessment notification dates. If an appeal is filed in both forums for the same property, the county board must dismiss its case without prejudice, transferring full jurisdiction to the Tax Court. This change primarily affects owners of high-value properties and local taxing districts by streamlining their appeal options for significant assessments.