Boonton's Tax Rate Is About to Look Very Different. Here's What a Reassessment Actually Changes.

Every Boonton tax bill this year is figured at a general rate of 3.574 per $100 of assessed value. For anyone comparing towns across Morris County, that looks like one of the highest rates around.

Next year, the assessments behind that rate reset. The Morris County Board of Taxation directed the Town of Boonton to carry out a Complete Reassessment Program starting with tax year 2027, and the new assessments will reflect each property's estimated market value as of October 1, 2026. That valuation date has already passed. The values that will set 2027 tax bills are tied to a market moment that is now behind us, even though no owner has seen theirs yet.

When the new assessments arrive, the rate will be recalculated and will probably look very different. A different rate does not by itself mean a different bill. The 2027 bill depends on whether a particular home gained value faster or slower than the rest of Boonton.

Assessments in Boonton Have Been Falling Behind

New Jersey keeps a running measure of how far a town's assessments sit from real market prices. It is called the average ratio. In the state's 2025 equalization table for Morris County, Boonton Town's assessments added up to 67.68% of true value. In the Chapter 123 ratio table the state certified on January 30, 2026, Boonton Town's average ratio for tax year 2026 was 63.26%.

A falling ratio means sale prices kept rising while assessments stayed mostly where they were. On average, a Boonton home is now assessed at a little under two-thirds of what the state estimates it is worth.

That gap explains why the rate is high. The Morris County Board of Taxation lists Boonton Town's general tax rate at 3.291 in 2023, 3.380 in 2024, 3.478 in 2025 and 3.574 in 2026. The NJ Division of Taxation explains that a general tax rate is the amount local budgets need divided by the town's total assessed value, and each bill is that rate times the property's assessment. If the assessed values in the bottom of that fraction sit well below market value, the rate on top has to be higher to raise the same money.

Comparing Towns by Their Tax Rates Already Gives the Wrong Answer

Since every Morris County town sits at its own ratio, published rates can't be compared side by side. A rough fix is to multiply each town's 2026 rate by its 2026 average ratio. That gives an approximate tax per $100 of market value instead of per $100 of assessed value. It is back-of-envelope arithmetic, not an official effective rate, but the gap it shows is large.

Measured by published rate, Boonton Town's 3.574 looks far higher than Butler's 2.395. Measured against market value, the two towns are much closer. Boonton Town and Boonton Township share a 07005 ZIP code, but they are separate taxing districts with separate ratios and separate rates. They should never be read off the same line.

The 2027 reassessment will make Boonton's published rate easier to read. It will also make it harder to compare with Boonton's own past rates.

What Happens to the Same Tax Levy Once Values Are Reset

The reassessment brochure from Appraisal Systems, Inc., the firm Boonton hired for the work, puts the central point plainly. A reassessment "will not increase the total amount of revenue to be raised by taxation." The amount raised still depends on the school, county and municipal budgets. What changes is how that total gets divided. The brochure explains that because overall property value in town will change while the amount to be collected does not, the tax rate will change too. It adds that the effect on any one owner's bill can't be predicted until the reassessment is finished and the rate is computed.

Here is how that plays out:

1. Total assessed value in Boonton goes up a great deal as assessments move toward full market value.
2. Budgets set the dollar amount to be raised, and the reassessment itself doesn't add to it.
3. The rate falls roughly in step with the rise in total assessed value.
4. Each owner's share of the levy now matches the home's share of the town's total market value.

Step four is where bills shift. A home that gained value faster than the town as a whole takes on a bigger share. A home that gained less takes on a smaller one. The 63.26% figure is a town average, so some properties are assessed above it and some below. Resetting everything to the same October 1, 2026 standard is what moves those shares.

Morristown went through this same process not long ago. Patch reported that its townwide reassessment for tax year 2024 was its first property revaluation in nearly 20 years, and that Appraisal Systems did the inspections there too. According to Patch, the letters to Morristown owners included an estimated comparative 2024 rate to help them gauge whether their taxes might go up or down, and that estimate left out any budget increases. The county's rate table shows Morristown at 2.906 in 2023 and 1.575 in 2024. That is Morristown's history, not a forecast for Boonton. It shows how much a rate can move in the first year without the reassessment adding a dollar to the levy.

The Reassessment Doesn't End After 2027

Boonton's program goes further than a single reset. Tax Assessor Scott J. Holzhauer's letter to owners says every property was to be inspected in late 2025 and through 2026 to set the 2027 values. After that, 25% of properties will be inspected each year, and every property will be reassessed every year from 2028 through 2031. The letter says the goals are uniform and equitable assessments, keeping up with recent market changes and "significantly" reducing costly tax appeals. It also says yearly reassessment "helps alleviate any drastic changes in value over time."

This affects anyone buying in Boonton over the next few years. The ratio drifted from 67.68% to 63.26% in one year of state tables. Under annual reassessment, that kind of drift should be corrected every year instead of building up over time. A buyer's assessment will follow the market more closely in both directions.

Where This Shows Up in a 2027 Purchase or Sale

For buyers comparing towns. A Boonton tax bill from 2026 was calculated on an assessment of about two-thirds of market value at a rate of 3.574. A 2027 bill will be based on an October 1, 2026 valuation at a new rate. The 2026 bill gives a rough idea of a home's taxes, but it does not predict the 2027 bill. Comparing a 2026 Boonton bill with a 2027 rate, or a 2027 Boonton rate with an unadjusted rate from another town, mixes two different measures.

For owners getting ready to list. The assessor's letter says proposed new assessed values will be mailed to owners, and owners can schedule a review with Appraisal Systems to talk through their valuation. ASI's brochure calls this a one-on-one meeting with a firm representative to go over the value and how it was reached. If a property has a condition the owner believes affects its value, the assessor's letter asks for documentation to be sent to Appraisal Systems, Inc., 139 Harristown Road, Suite 103, Glen Rock, NJ 07452, where it will be considered. A seller who knows the proposed 2027 assessment can show buyers the most current figure available.

For anyone who disagrees with a value. The NJ Division of Taxation's assessment and appeals page says appeals are normally due by April 1, but "where a municipal revaluation or reassessment has been undertaken, petitions must be filed and received by May 1st." The same page says the owner has to show the assessment is unreasonable compared with market value, and it defines a town's common level range as plus or minus 15% of its average ratio. For tax year 2026, Boonton Town's range was 53.77% to 72.75%. The Morris County Board of Taxation handles county-level appeals.

This post is general information, not legal, tax or financial advice. Please confirm deadlines and how they apply to your property with the county tax board, a tax attorney or your accountant.

Quick Answers

Does an inspector still need to come inside my home? The assessor's letter says Appraisal Systems representatives carry photo ID, and their names and vehicles are registered with the Police Department and the Town Clerk's office. It also says a contactless interior inspection by video call is available. ASI's Boonton project page lists the inspectors by name and number, along with a spreadsheet of inspector location assignments. First visits are unannounced, on weekdays between 9:00 a.m. and 5:00 p.m., and an inspector who finds no one home leaves a card with a return date.

Does this include Boonton Township? No. The program covers the Town of Boonton. Boonton Township has its own 2026 average ratio of 69.03% and its own rate of 2.585.

Where can I read the original notices? New Jersey Hills Media Group's report on the program quotes the assessor's letter in detail. The Town of Boonton's notice and the full assessor's letter are the primary sources. Questions about inspections or valuations go to Appraisal Systems, Inc. at (201) 493-8530.

If you're thinking about selling in Boonton in 2027, your proposed assessment and your market value will both come up when buyers do their math. Sueanne Sylvester can help you see where your home stands against recent Boonton sales before the new values arrive, so your pricing and your tax story match. Request a Home Valuation to get started.