New Jersey · 10 counties covered
New Jersey Multifamily Property Tax Underwriting Guide
New Jersey requires assessment at 100% of true market value. Sale prices are used as primary market evidence and commonly drive reassessment within 1–2 cycles. Combined effective rates range from 2–3%+ depending on municipality and school district, among the highest in the nation.
Counties with coverage
Bergen County
MediumSale-event triggered
Annual assessment at 100% of true value; sale price is primary market evidence
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Camden County
HighSale-event triggered
Annual assessment at 100% of true value; sale price is primary market evidence
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Essex County
HighSale-event triggered
Annual assessment at 100% of true value; sale price is primary market evidence
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Hudson County
HighSale-event triggered
Annual assessment at 100% of true value; sale price is primary market evidence
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Mercer County
HighSale-event triggered
Annual assessment at 100% of true value; sale price is primary market evidence
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Middlesex County
HighSale-event triggered
Annual assessment at 100% of true value; sale price is primary market evidence
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Monmouth County
MediumSale-event triggered
Annual assessment at 100% of true value; sale price is primary market evidence
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Morris County
MediumSale-event triggered
Annual assessment at 100% of true value; sale price is primary market evidence
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Passaic County
HighSale-event triggered
Annual assessment at 100% of true value; sale price is primary market evidence
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Union County
HighSale-event triggered
Annual assessment at 100% of true value; sale price is primary market evidence
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