When does the tax assessor conduct the general reassessment of properties?

The general reassessment of properties by the tax assessor in New Jersey typically occurs every 5 years. This time frame allows for adjustments to property values to reflect current market conditions and ensure that property taxes are assessed fairly and accurately. By conducting these reassessments every five years, tax assessors can account for changes in property values due to market trends, renovations, or other factors that could influence a property's worth. This structured approach aids in maintaining equity among property owners in the taxation process.

Other options suggest different frequencies that do not align with state law requirements or best practices for property tax assessments in New Jersey. An annual reassessment might seem beneficial for keeping property values current, but it would be impractical and burdensome for both assessors and property owners. Similarly, 3-year and 10-year intervals do not adequately address the need to adjust property values in a timely manner based on fluctuating market conditions.