All real property and tangible personal property located in the state of
New Jersey is subject to property tax unless specifically exempted by
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
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
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.