New Jersey Statutes Title 54. Taxation 54 § 3-18

The county board of taxation in each county shall meet annually for the purpose of reviewing the equalization table prepared pursuant to R.S.54:3-17 with respect to the several taxing districts of the county. At the meeting a hearing shall be given to the assessors and representatives of the governing bodies of the various taxing districts for the purpose of determining the accuracy of the ratios and valuations of property as shown in the equalization table, and the board shall confirm or revise the table in accordance with the facts. The hearings may be adjourned from time to time but the equalization shall be completed before March 10, or not later than May 25 in the cases of a county board of taxation participating in the demonstration program established in section 4 of P.L.2013, c. 15 (C.54:1-104) , a county board of taxation of a county operating under the “Property Tax Assessment Reform Act,” P.L.2009, c. 118 (C.54:1-86 et seq.), and a county board of taxation of a county that has adopted, by resolution, the provisions of section 1 of P.L.2018, c. 94 (C.54:1-105). At the first hearing any taxing district may object to the ratio or valuation fixed for any other district, but no increase in any valuation as shown in the table shall be made by the board without giving a hearing, after 3 days' notice, to the governing body and assessor of the taxing district affected.