A2280 prohibits discriminatory practices in real estate appraisals and mandates that appraisers undergo anti-bias training. The bill specifies that appraisers cannot consider factors such as race, gender, or marital status when assessing property values.
The New Jersey State Senate passed A2280 on May 20, 2024 by a vote of 26 to 10. We have assigned pluses to the nays because the government should not interfere with private entities or the free market. This bill imposes unnecessary regulations on appraisers, potentially leading to artificially adjusted property valuations that do not accurately reflect market conditions. By mandating anti-bias training and restricting the factors appraisers can consider, A2280 subjects professionals to government oversight that could pressure them into valuations based on political considerations rather than economic realities.
