Generally exempt are government-owned property, and property of religious, educational, charitable and various types of nonprofit organizations. The local property tax is measured by property values and is apportioned among taxpayers according to the assessed value of taxable property owned by each taxpayer. The tax applies to real estate and tangible personal property of telephone, telegraph and messenger systems companies. No part of it is used for support of State government. The amount of local property tax is determined each year, in each municipality, to supply whatever revenue is required to meet budgeted expenditures not covered by money available from all other sources.
Municipalities add their own requirements and levy taxes to raise the entire amount.
As a residual local tax, the total property tax is determined by local budgets and not by property valuations or tax rates. The local property tax rate is determined each year by the County Board of Taxation for each municipality by relating the total amount of tax levy to the total of all assessed valuations taxable. This tax is assessed and collected locally by the taxing districts for support of county and municipal governments and local school district purposes. List of New Jersey's 21 County Boards of Taxation Atlantic County 1333 Atlantic Ave. Gloucester County CC Budd Blvd.