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

ACR 58 proposes a constitutional amendment requiring New Jersey’s Legislature to create laws allowing municipalities to tax property improvements (like buildings) at a lower rate than land. This would directly affect local governments, which currently apply a single tax rate to both land and improvements. The implementing laws must permit municipalities to phase in rate changes, set their own rate differences, and later return to a single tax rate. The Legislature could limit participation to municipalities needing infrastructure investment, but the amendment itself does not create the tax system - it only directs the Legislature to enable it. The proposal requires voter approval after legislative passage.