What is the minimum percentage level of taxable value established by county boards in New Jersey?

In New Jersey, the minimum percentage level of taxable value that county boards are required to establish is set at 100 percent of the assessed value for property taxation purposes. However, for certain practical applications like compliance, adjustments, and assessments, it is understood that the boards can establish a lower level for specific assessments but must not drop below a certain threshold.

The context of the question generally hints at the levels of assessment ratios for different classes of property or conditions that might fall beneath the full market valuation. In that context, the correct choice reflects the statutory guidelines followed in practice and understanding by assessors, which is commonly referenced as about 100 percent for standard property taxation.

If the option represented 30 percent, it reflects more accurately the type of ratio that might be applied for certain exemptions or variance assessments under specific conditions rather than a statutory minimum. Thus, the figure chosen aligns more closely with the standard operations of tax assessment rather than the variability or exceptions that might exist in specific cases.