Tool
What will the property tax actually be?
Sixteen towns, the State's own 2025 rates, and an explanation of why three different tax rates appear online for the same town.
How this is worked out
- From an assessed value: assessed value × the town's general tax rate ÷ 100. This is how a bill is calculated.
- From a price: price × the town's effective tax rate ÷ 100. The effective rate is the general rate multiplied by the town's average assessed-to-market ratio, so it estimates the bill for a home assessed at the town average.
- Why they differ: the general rate is per $100 of assessed value; the effective rate is per $100 of market value. Towns that have not revalued in years have low assessments and high general rates, so a town's general rate says little on its own.
Source: NJ Division of Taxation, 2025 General Tax Rates, read October 21, 2026. Millburn's figures (general 2.019, effective 1.571) match the State's 2025 tables, and the implied ratios agree with the 2025 county equalization tables for the Essex and Morris towns shown. The State notes that the effective rate is a comparison tool, not for computing a bill. Rates are set each year: check your town's current rate and your own assessment.
An estimate, not advice. Your bill depends on how the town assesses your property. Ask the town tax assessor for the assessment, and a tax attorney before appealing one.
Questions
Questions about this tool
Why do I see different property tax rates for the same New Jersey town?
Because there are three different numbers. The general rate is applied to assessed value and is what a bill uses. The effective rate compares tax to market value. The equalization ratio is the average assessed-to-market ratio that links them. Millburn's 2025 general rate is 2.019 per $100 and its effective rate is 1.571%.
How do I calculate my New Jersey property tax from the assessed value?
Multiply the assessed value by the town's general tax rate and divide by 100. A $1,000,000 assessment at Millburn's 2025 rate of 2.019 is $20,190 a year.
Which towns here have the lowest and highest effective rates?
Of the sixteen towns on this page, Summit has the lowest 2025 effective rate (1.475%) and West Orange the highest (3.080%). The calculator ranks the same price across all sixteen.
Where do these rates come from?
From the New Jersey Division of Taxation's 2025 General Tax Rates table. Rates change every year.
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