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Property and State Tax Information

Income Tax Rates		Income Brackets			Personal Exemption
Low	High	# of Brackets	Low	High	Single	Married	Child
1.4%	8.97%	7	$20,000	$500,000	$1,000	$2,000	$1,500

Federal Tax Deducation	State Sales Tax
Federal Tax Deducation	State Sales Tax
None	6.0%

All real property and tangible personal property located in the state of New Jersey is subject to property tax unless specifically exempted by statute.
The assessed valuation of real property is based on 100 percent of the fair market value.An individual's property taxes are then calculated by multiplying that general tax rate by the assessed value of his particular property.
Real property taxes are assessed and collected by the assessors and collectors of the respective cities and townships but are subject to supervision and review by the county boards of taxation. Personal property is administered by the state.
Property tax payments are due annually in four installments: Feb. 1, May 1, Aug. 1 and Nov. 1.
New Jersey has several homeowner property tax relief programs, including a homestead rebate, property tax reimbursement and the NJ SAVER (School Assessment Valuation Exemption Relief) program available to qualified New Jersey homeowners.
Exemptions are also offered to veterans or their surviving spouses, disabled veterans or their surviving spouses, and senior citizens, disabled persons or their surviving spouses.