Permits exterior-based property reassessments within eight years of last municipal-wide revaluation.

S 3053 extends New Jersey's allowable timeframe for municipalities to conduct exterior-only property reassessments from four to eight years after the last full municipal revaluation that included interior inspections. This change reduces the frequency at which costly full revaluations (requiring interior property inspections) must be performed by local governments. Municipalities can now use exterior-only reassessments if interior inspections occurred within the previous eight years, rather than the current four-year requirement. The bill directly affects New Jersey municipalities managing property tax assessments, providing cost-saving flexibility without altering assessment methods.