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2025 general tax rate · Sussex County, NJ
Franklin Borough property tax rate
Franklin Borough's 2025 general tax rate is $2.515 per $100 of assessed value. A property assessed at $300,000 owes $7,545.00 for the year. That ranks 354th highest of New Jersey's 564 municipalities, below the middle, $0.440 per $100 below the $2.960 per $100 state median.
- 1General tax rate $2.515 per $100
- 2Bill on $300,000 assessed $7,545.00
Your Franklin Borough tax bill
The bill before exemptions and credits. Compare every New Jersey rate.
General rate and effective rate in Franklin Borough
New Jersey publishes two rates for every municipality. The general tax rate, $2.515 per $100 in Franklin Borough, is the one applied to the assessed value on the bill: $300,000 assessed owes $7,545.00. The effective tax rate, $2.566 per $100, is "the general property tax adjusted by the municipality's equalization ratio", the rate on market value. Dividing one by the other puts Franklin Borough's assessments at about 102.03% of market value, above market value on average; the state median is 70.02%.
The effective rate is the fairer comparison between towns. On it Franklin Borough ranks 108th of 564, against 354th on the general rate, and sits $0.430 above the $2.140 median effective rate. At 102.03%, a $300,000 assessment corresponds to roughly $294,031 of market value.
Franklin Borough's rate in 2024 and 2025
The general tax rate fell $0.140 per $100 (5.24%) from $2.654 per $100 in 2024, and the same $300,000 assessment owes $417.00 less than at last year's rate. In 2024 Franklin Borough ranked 335th. The effective rate went from $2.820 to $2.566 per $100 (down 9.01%), and the implied ratio from 106.25% to 102.03%: market values rose faster than assessments.
Tax on common assessed values in Franklin Borough
| Assessed value | 2025 bill | At the 2024 rate | Versus NJ median rate |
|---|---|---|---|
| $200,000 | $5,030.00 | $5,308.00 | −$890.00 |
| $300,000 | $7,545.00 | $7,962.00 | −$1,335.00 |
| $400,000 | $10,060.00 | $10,616.00 | −$1,780.00 |
| $500,000 | $12,575.00 | $13,270.00 | −$2,225.00 |
| $750,000 | $18,862.50 | $19,905.00 | −$3,337.50 |
Each bill is the assessed value divided by 100 and multiplied by $2.515, before exemptions, credits or special charges. These are assessed values, not sale prices: at 102.03% the $300,000 row is a property worth about $294,031. The last column is the difference from the same assessment at the $2.960 per $100 state median.
How Franklin Borough compares in Sussex County and New Jersey
Among the 24 municipalities in Sussex County, Franklin Borough ranks 19th highest; the county median is $3.160 per $100, so Franklin Borough sits $0.640 per $100 below it. The next higher rate in the county is Branchville at $2.516, and the next lower is Vernon Township at $2.345. Statewide, 37% of municipalities have a lower general tax rate than Franklin Borough.
Outside Sussex County, the closest rates are Mantua Township ($2.516, Gloucester), Butler ($2.511, Morris), Tewksbury Township ($2.519, Hunterdon), Mendham Borough ($2.526, Morris). Because towns assess at different shares of market value, the effective rate is the better guide to what a house of a given price pays.
Appealing a Franklin Borough assessment
New Jersey appeals go to the Sussex County Board of Taxation. The petition is due April 1, or May 1 in a year when Franklin Borough implemented a municipal-wide revaluation or reassessment (NJ Division of Taxation). Property assessed above $1,000,000 may go directly to the Tax Court, and a County Board judgment can be appealed to the Tax Court within 45 days. The Board tests the assessment against the common level range: the average ratio plus or minus 15%. Using the 102.03% ratio implied by the state's two rates, that range runs from about 86.73% to 117.33% of market value; the Director's official average ratio for Franklin Borough, which the County Board applies, can differ slightly.
The New Jersey appeal page sets out each step with its source and the ratio arithmetic. This is a summary of the published procedure, not legal advice.
Franklin Borough property tax questions
What is the property tax rate in Franklin Borough, NJ?
Franklin Borough's 2025 general tax rate is $2.515 per $100 of assessed value; its effective rate, on market value, is $2.566 per $100. Source: New Jersey Division of Taxation.
How much is the property tax on a $300,000 assessment in Franklin Borough?
$300,000 ÷ 100 × $2.515 = $7,545.00 a year, before exemptions and credits. At the 2024 rate the same assessment owed $7,962.00.
Is Franklin Borough's tax rate high for New Jersey?
It ranks 354th highest of 564, below the middle of New Jersey municipalities; the median is $2.960 per $100. On the effective rate, which allows for different assessment levels, it ranks 108th.
How do I appeal a Franklin Borough property assessment?
Petition to the County Board of Taxation: by April 1 (May 1 after a municipal-wide revaluation) (NJ Division of Taxation; Guide to Tax Appeal Hearings). Then: county board hearing and judgment (Set by the County Board); appeal to the tax court (Within 45 days of the County Board's judgment).
Source: New Jersey Division of Taxation, 2025 General Tax Rates (general and effective tax rates by county and municipality); prior year from the 2024 General Tax Rates. Appeal steps: NJ Division of Taxation, Assessment and Appeals (updated August 15, 2025); NJ Division of Taxation, A Guide to Tax Appeal Hearings (revised 2022). Last checked October 21, 2026. This page explains published figures; it is not tax or legal advice.