The general coefficient is the average deviation of individual assessment-sales ratios from the overall average assessment-sales ratio of all sales occurring in a taxing district without regard to any property characteristics.
The stratified coefficient of deviation is the average deviation of individual assessment-sales ratios for all useable sales occurring within a particular property class from the average assessment-sales ratio for that class.
The segmented coefficient of deviation is the average deviation of individual assessment-sales ratios within a particular class of property from the average assessment-sales ratio for all sales of properties occurring within a taxing district.
Chapter 123 Definitions and Equations
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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.
Example General Tax Rate: Assessed Value 150,000 x General Tax Rate .03758 = Tax Bill 5,637
The Effective Tax Rate is a statistical study that enables the comparison of one district to another district (based on the assumption that all districts are at 100% valuation). This rate is NOT to be used to compute the tax bill.
General and Effective Tax Rates by County and Municipality
General Tax Rates by Year
New Jersey Tax Court on January 31, 2022 for use in Tax Year 2022 |
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New Jersey Tax Court on January 31, 2021 for use in Tax Year 2021 |
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New Jersey Tax Court on January 31, 2020 for use in Tax Year 2020 |
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New Jersey Tax Court on January 31, 2019 for use in Tax Year 2019 |
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New Jersey Tax Court on January 31, 2018 for use in Tax Year 2018 |
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New Jersey Tax Court on January 31, 2017 for use in Tax Year 2017 |
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New Jersey Tax Court on January 31, 2016 for use in Tax Year 2016 |
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