New Jersey Bill Would Help Prevent Racism In Home Appraisal Industry

NEW JERSEY — There’s a big reason why many New Jersey residents put up with the endless headaches that come with being a homeowner – and it can usually be measured in six figures or more. The problem? A troubling number of Black and Latino families face uphill battles when it comes to getting their homes appraised at a fair value, advocates say.

On Monday, a proposed state law in New Jersey moved forward in the Legislature. If S-1311 crosses the finish line, a real estate appraiser would be prohibited from considering “race, creed, sexual orientation, and/or other personal characteristics” as part of the appraisal process. The bill would also require appraisers to complete a fair housing and appraisal bias education course.

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