The General Tax Rate is a multiplier for use in determining the amount of tax levied upon each property. It is expressed as $1 per $100 of taxable assessed value.
This rate is used to compute the tax bill.
Tax Ratio
Although assessments may remain unchanged from year-to-year; market values are constantly changing. To account for those changes, the Director of the Division of Taxation performs an annual study for each taxing district which compares the property sold to its assessed value. Based on this study, the Division of Taxation establishes an "Equalization Ratio" for each municipality. N.J.S.A. 54:1-35a et seq. For example, in Boonton Town the 2004 Equalization Ratio is 64.86% whereas in Kinnelon Borough, the Equalization Ratio is 87.42%. In municipalities that have conducted revaluations, the Equalization Ratios are 100%.
Please wait while the document is being prepared
All form fields are required. The map will be sent as a attachment
