Morris County, New Jersey
Madison, N.J. Property Tax Rate 2026
Official 2025 Division of Taxation rates for Madison. The general rate is per $100 of assessed value. A sale price is not an assessed value.
- General tax rate
- 2.254
- Effective tax rate
- 1.535
- Equalization ratio
- 68.10%
per $100 assessed
per $100 market value
assessed ÷ market, from the two rates
Example tax bills
Approximation using the effective rate. The general rate is applied to the equalized assessment, not the sticker price.
- $500,000 market value → assessed about $340,506 → about $7,675/year
- $750,000 market value → assessed about $510,759 → about $11,513/year
Madison market report · Homes for sale in Madison · All NJ tax rates
Get Instant Price-Drop & New Listing Alerts in Madison
Tell us when a Madison home hits the market or drops in price. Free buyer alerts.
What's Your Madison Home Worth in 2026?
Get a seller valuation for your Madison home using recent sales and local tax data.
Questions about Madison taxes
What is the property tax rate in Madison, NJ?
The official 2025 general tax rate in Madison (Morris County) is 2.254 per $100 of assessed value. The effective tax rate is 1.535 per $100 of market value.
What is the effective tax rate in Madison?
Madison's effective tax rate is 1.535. That rate already converts market value into an approximate tax bill. The general rate applies only to assessed value.
How much is property tax on a $500,000 home in Madison?
Using the equalization ratio of 68.10%, a $500,000 market value is about $340,506 assessed. The approximate annual tax is $7,675, which is $500,000 times the effective rate of 1.535 per $100.
How do I appeal my Madison property assessment?
Enter your Madison address on this page. Garden State AI compares the assessment with recent sales under NJ Chapter 123 and, when the numbers support it, prepares the appeal packet.
Source: 2025 General Tax Rates, NJ Division of Taxation. Rates are not a legal opinion and do not include exemptions.