New Jersey property-tax definition
Chapter 123
New Jersey's statutory assessment-ratio framework used by county tax boards to compare an assessment with true value and the municipality's common level range.
Worked New Jersey example
A $400,000 supported true value in Gloucester Township at a 56.95% 2026 Director's Ratio has a common-level assessment of about $227,800 before applying the certified lower and upper range.
Why it matters
Watchdog keeps the definition beside the property data so users can distinguish an observed public record from an interpretation or derived screening signal.
Official source
For homeowners
Use the term to understand what a tax or assessment record is actually saying before assuming it represents market value or a future bill.
For professionals
Keep the source and observation date with the number, verify the authoritative record, and document any calculation or professional conclusion separately.