Our certified tax rate from Essex County is $1.856 per one hundred dollars of assessed value. The calculation to determine the annual amount of taxes is as follows:
Assessed value = $1,000,000 x 1.856 = $1,856,000, divided by 100 = $18,560 per year.
Annual taxes less first three quarters equal the reconciled fourth quarter. The fourth quarter tax bills will be mailed in the middle of September.
*First half billing (February and May) is half of the prior year tax as an estimate going forward each year. Millburn Township estimates a tax rate to bill the third quarter taxes, as Essex County does not have their budget complete at this time.
All successful County Board Tax Appeals are processed as credits to the fourth quarter tax bill. The first half of 2018 will be revised as well based on the new lower value.
Any questions, please call the Tax Office at (973)564-7084.