... sentence . . . subjects property to taxation annually.' Ibid. The judge noted N.J.S.A. 54:4-2.46 likewise provides '[t]he true value of tangible personal property ... to taxation on the preceding assessment date.'' Ibid. (first quoting N.J.S.A. 54:4-2.46 (alterations in original); and then quoting N.J.S.A ...