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Morris County Board of Taxation

30 Schuyler Place, Morristown, NJ 07960

973-285-6707

Chapter 123 Worksheet

Use this worksheet to calculate average, upper, and lower market value for a property.

Fill in the 2023 Total Assessment. Then fill in the Average RatioLower Limit, and Upper Limit using values from this table based on your municipality:

Municipality

Average Ratio (%)    

Lower Limit (%)    

Upper Limit (%)     

BOONTON TOWN

77.15

65.58

88.72

BOONTON TWP 

83.62

71.08

96.16

BUTLER (reasses)

100.00

100.00

100.00

CHATHAM BORO

(Revaluation)

100.00

100.00

100.00

CHATHAM TWP.

81.38

69.17

93.59

CHESTER BORO

100.00

100.00

100.00

CHESTER TWP

90.12

76.70

100.00

DENVILLE

82.00

69.70

94.30

DOVER

78.73

66.92

90.54

EAST HANOVER

71.81

61.04

82.58

FLORHAM PARK

94.46

80.29

100

HANOVER TWP.

75.98

64.58

87.38

HARDING TWP.

89.92

76.43

100.00

JEFFERSON TWP.

91.97

78.17

100.00

KINNELON BORO

93.58

79.54

100.00

LINCOLN PARK BORO

82.51

70.13

94.89

LONG HILL TWP.

(reassess)

100.00

100.00

100.00

MADISON

81.53

69.3

93.76

MENDHAM BORO

88.91

75.57

100.00

MENDHAM TWP (reassess)

100.00

100.00

100.00

MINE HILL

80.04

68.03

92.05

MONTVILLE TWP.

84.15

71.53

96.77

MORRIS TWP.

89.69

76.24

100.00

MORRIS PLAINS BORO

84.09

71.48

96.7

MORRISTOWN

78.16

66.44

89.88

MTN.LAKES BORO (reassess)

100.00

100.00

100.00

MT ARLINTON BORO
(re-evaluation)

100.00

100.00

100.00

MT OLIVE TWP.

82.35

70.00

94.70

NETCONG BORO

96.37

81.91

100.00

PAR-TROY HILLS TWP.

76.72

65.21

88.23

PEQUANNOCK TWP. (reassess)

100.00

100.00

100.00

RANDOLPH TWP.

87.96

74.77

100.00

RIVERDALE BORO (reassess)

100.00

100.00

100.00

ROCKAWAY BORO

86.99

73.94

100.00

ROCKAWAY TWP. (reassess)

100.00

100.00

100.00

ROXBURY TWP.

82.18

69.85

94.51

VICTORY GDNS BORO

72.45

61.58

83.32

WASHINGTON TWP.

86.68

73.68

99.68

WHARTON BORO (reassess)

100.00

100.00

100.00

Average Market Value

Lowest Fair Market Value

Highest Fair Market Value

Note: This page can't be printed. To save the calculated values, write them down or take a screenshot.