Home / New Jersey / Morris County / Madison
2025 general tax rate · Morris County, NJ
Madison property tax rate
Madison's 2025 general tax rate is $2.254 per $100 of assessed value. A property assessed at $300,000 owes $6,762.00 for the year. That ranks 390th highest of New Jersey's 564 municipalities, below the middle, $0.710 per $100 below the $2.960 per $100 state median.
- 1General tax rate $2.254 per $100
- 2Bill on $300,000 assessed $6,762.00
Your Madison tax bill
The bill before exemptions and credits. Compare every New Jersey rate.
General rate and effective rate in Madison
New Jersey publishes two rates for every municipality. The general tax rate, $2.254 per $100 in Madison, is the one applied to the assessed value on the bill: $300,000 assessed owes $6,762.00. The effective tax rate, $1.535 per $100, is "the general property tax adjusted by the municipality's equalization ratio", the rate on market value. Dividing one by the other puts Madison's assessments at about 68.1% of market value, well below market value, the sign of a town that has not revalued recently; the state median is 70.02%.
The effective rate is the fairer comparison between towns. On it Madison ranks 478th of 564, against 390th on the general rate, and sits $0.610 below the $2.140 median effective rate. At 68.1%, a $300,000 assessment corresponds to roughly $440,529 of market value.
Madison's rate in 2024 and 2025
The general tax rate rose $0.120 per $100 (5.82%) from $2.130 per $100 in 2024, and the same $300,000 assessment owes $372.00 more than at last year's rate. In 2024 Madison ranked 423rd. The effective rate went from $1.521 to $1.535 per $100 (up 0.92%), and the implied ratio from 71.41% to 68.1%: market values rose faster than assessments.
Tax on common assessed values in Madison
| Assessed value | 2025 bill | At the 2024 rate | Versus NJ median rate |
|---|---|---|---|
| $200,000 | $4,508.00 | $4,260.00 | −$1,412.00 |
| $300,000 | $6,762.00 | $6,390.00 | −$2,118.00 |
| $400,000 | $9,016.00 | $8,520.00 | −$2,824.00 |
| $500,000 | $11,270.00 | $10,650.00 | −$3,530.00 |
| $750,000 | $16,905.00 | $15,975.00 | −$5,295.00 |
Each bill is the assessed value divided by 100 and multiplied by $2.254, before exemptions, credits or special charges. These are assessed values, not sale prices: at 68.1% the $300,000 row is a property worth about $440,529. The last column is the difference from the same assessment at the $2.960 per $100 state median.
How Madison compares in Morris County and New Jersey
Among the 39 municipalities in Morris County, Madison ranks 26th highest; the county median is $2.538 per $100, so Madison sits $0.280 per $100 below it. The next higher rate in the county is Mountain Lakes at $2.299, and the next lower is Mount Arlington at $2.203. Statewide, 30% of municipalities have a lower general tax rate than Madison.
Outside Morris County, the closest rates are Corbin City ($2.247, Atlantic), Clark Township ($2.269, Union), Cresskill ($2.269, Bergen), Bass River Township ($2.237, Burlington). Because towns assess at different shares of market value, the effective rate is the better guide to what a house of a given price pays.
Appealing a Madison assessment
New Jersey appeals go to the Morris County Board of Taxation. The petition is due April 1, or May 1 in a year when Madison implemented a municipal-wide revaluation or reassessment (NJ Division of Taxation). Property assessed above $1,000,000 may go directly to the Tax Court, and a County Board judgment can be appealed to the Tax Court within 45 days. The Board tests the assessment against the common level range: the average ratio plus or minus 15%. Using the 68.1% ratio implied by the state's two rates, that range runs from about 57.88% to 78.31% of market value; the Director's official average ratio for Madison, which the County Board applies, can differ slightly.
The New Jersey appeal page sets out each step with its source and the ratio arithmetic. This is a summary of the published procedure, not legal advice.
Madison property tax questions
What is the property tax rate in Madison, NJ?
Madison's 2025 general tax rate is $2.254 per $100 of assessed value; its effective rate, on market value, is $1.535 per $100. Source: New Jersey Division of Taxation.
How much is the property tax on a $300,000 assessment in Madison?
$300,000 ÷ 100 × $2.254 = $6,762.00 a year, before exemptions and credits. At the 2024 rate the same assessment owed $6,390.00.
Is Madison's tax rate high for New Jersey?
It ranks 390th highest of 564, below the middle of New Jersey municipalities; the median is $2.960 per $100. On the effective rate, which allows for different assessment levels, it ranks 478th.
How do I appeal a Madison property assessment?
Petition to the County Board of Taxation: by April 1 (May 1 after a municipal-wide revaluation) (NJ Division of Taxation; Guide to Tax Appeal Hearings). Then: county board hearing and judgment (Set by the County Board); appeal to the tax court (Within 45 days of the County Board's judgment).
Source: New Jersey Division of Taxation, 2025 General Tax Rates (general and effective tax rates by county and municipality); prior year from the 2024 General Tax Rates. Appeal steps: NJ Division of Taxation, Assessment and Appeals (updated August 15, 2025); NJ Division of Taxation, A Guide to Tax Appeal Hearings (revised 2022). Last checked October 21, 2026. This page explains published figures; it is not tax or legal advice.