How is the New Jersey property tax rate expressed?

In New Jersey, the property tax rate is expressed as a millage rate. This millage rate represents the amount of tax payable per $1,000 of assessed property value. When property taxes are calculated, the millage rate is multiplied by the assessed value of the property to determine the total tax owed. This system allows for a standardized and consistent method of taxation that can accommodate variations in property values across different municipalities.

In contrast, a flat fee per property owner does not take property value into account and would not equitably distribute the tax burden based on the actual value of the properties. Expressing the tax rate as a percentage of assessed value could lead to confusion, as the millage rate already incorporates this concept by defining how many dollars per $1,000 of assessed valuation are owed. Lastly, using a square footage charge for property taxation would again disregard the differences in property value and market conditions, leading to a less fair and effective way to assess property taxes. Hence, the millage rate is the most appropriate and commonly used method for expressing property tax rates in New Jersey.