To whom are tax rates reported for collection of property taxes in New Jersey?

The correct answer is that tax rates are reported to the municipal governing body in New Jersey. This is crucial, as the municipal governing body is responsible for setting the local property tax rates that will be applied to properties within the municipality. They assess the financial needs of the municipality, which includes determining the necessary funding for services such as public safety, infrastructure maintenance, and local schools.

This governing body must ensure that the rates are fair, equitable, and compliant with state regulations, contributing to a well-functioning tax system that supports local governance.

The county board of taxation does play a role in overseeing and reviewing assessments, but the final determination of the property tax rates is inherently a function of the municipality itself, reinforcing their pivotal responsibility in the local taxation process.

While school districts rely on property taxes for funding, they generally do not set the tax rates; instead, they submit their budgetary needs to the municipal governing body, which then incorporates these figures into the overall tax rate. The state treasury is not directly involved in the local collection of property taxes, as its role is more focused on state revenues and financial management. Thus, the reporting of tax rates is directly tied to the municipal governing body for effective local tax collection.