The Tax Rate on your bill is determined by the County Board of Taxation based on a budget submitted by the municipality, county, schools and the total assessed value of the municipality.
Tax rates and assessments affect the tax you pay. The key to your Real Estate Tax is the bottom line of any budget "Amount To Be Raised By Taxation".
The State Constitution requires properties be assessed at "Fair" Market Value.
Elegibility Requirements for Deductions:
Veterans and widows of veterans
Senior citizens
Disable person or surviving spouse
The following may affect your Assessed Value:
Conversion of attic, basement, garage into living quarters
Installation of bath or powder room, central heating and cooling, fireplace, porch or pation, additions, garages, or any other structure and swimming pools.