Revises procedure for determining real property tax appeal outcomes.

This bill revises the method for calculating the "common level range" used in New Jersey real property tax appeals. It requires the Director of the Division of Taxation to certify whether adjusting this range from 15% to 5% of the average assessed-to-value ratio is technically feasible, with implementation beginning at the next scheduled determination if approved. Property owners appealing tax assessments and county boards of taxation will be directly affected, as a narrower 5% range makes it more likely appeals succeed in reducing taxable property values. The change aims to streamline the appeal process by tightening the standard for determining fair assessment levels. The bill takes effect immediately upon enactment.