What Is My Town’s Ratio Between Assessment And Market Value In?
The ratio between your Tax Assessment and Market Value varies yearly and are issued by New Jersey’s Division of Taxation and finalized by the Tax Court of New Jersey.
To calculate your implied market value based on your assessment, divide your assessment by the average ratio.
For example, if your assessment is $100,000, and the ratio is 20 percent, divide $100,000 by .20 to get an implied market value of $500,000.
Please contact our office at 973-380-0375 for a full review of your ratio and other matters related to your property tax assessment.