Property Tax Burden

Property Tax Burden has been measured in two ways:

  • the Equalized Property Tax Rate and
  • the Property Tax as an Estimated Percentage of resident Income

 

Equalized Property Tax Rates

Equalized, or full value, property tax rates are shown in every municipality for the following purposes:

  • County government
  • Municipal government
  • School purposes
  • State tax rebates (negative)
  • Net tax rate

For county, municipal and school taxes, the amount of the tax levy shown in the county abstract of ratables is divided by the Equalized Valuation of the municipality and multiplied by 100 to calculate the equalized tax rate. Tax levies included are:

 

County Government Tax Levy –

Col. 12A5 – Net County Taxes Apportioned Less Municipal Budget State Aid

Col. 12Ba -  County Library Taxes

Col. 12Bb -  County Local Health Service Taxes

Col. 12Bc -  County Open Space Tax

 

Municipal Tax –

Col. 12Ciia – Local Taxes to be Raised for Local Municipal Purposes

Col. 12Ciib – Municipal Open Space

Col. 12Ciic – Municipal Library Budget  

 

School Tax Rate –

Col. 12Cia -  District School Budget

Col. 12Cib -  Regional, Consolidated and Joint School Budget

Col. 12Cic -  As Required by Local Municipal Budget

 

State Tax Rebate Rate –

            A negative tax rate for State tax rebates is calculated by dividing the total amount of rebates paid to residents of the municipality by the Equalized Valuation, and multiplying the result by 100.

 

Net Tax Rate –

            The net tax rate is the sum of the tax rates for county, municipal, school and rebate tax rates.

 

Property Tax as a Percentage of Personal Income

Property taxes as a percentage of the personal income of the residents of a municipality is estimated by:

(1) multiplying the total tax levy for county, municipal and school purposes by the percentage of property classified as residential, farm homestead, or apartment in order to find the taxes levied on properties in which residents live;

(2) multiplying this figure by the percentage of dwelling units found by the decennial Census to be occupied, in order to eliminate taxes paid by absentee owners, particularly owners of seasonal resort properties;

(3) deducting from the result all State tax rebates paid to residents of the municipality;

(4) dividing the resulting net tax levy paid by residents by the personal income reported by residents of the municipality and expressing the result as a percentage.

Tax levy data are from the county abstracts of ratables which, together with property classification data, are on the website of the New Jersey Division of Local Government Services. Personal income data and tax rebate data are from the New Jersey Department of Treasury.

Data Availability

County Government Tax Rate

2015 | 2014 | 2013 | 2012 | 2011 | 2010

Municipal Tax Rate

2015 | 2014 | 2013 | 2012 | 2011 | 2010

School Tax Rate

2015 | 2014 | 2013 | 2012 | 2011 | 2010

Rebate Tax Rate

2015 | 2014 | 2013 | 2012 | 2011 | 2010

NET TAX RATE

2015 | 2014 | 2013 | 2012 | 2011 | 2010

PROPERTY TAX AS % INCOME

2013 | 2012 | 2011 | 2010 | 2009 | 2008