Which date marks the beginning of the tax quarter periods for property taxes in New Jersey?

The date that marks the beginning of the tax quarter periods for property taxes in New Jersey is January 1st. This is significant because January 1st is the date on which property is assessed for tax purposes. Properties are evaluated as of this date, and it serves as the benchmark for determining the value of properties to calculate taxes assessed during the fiscal year.

Understanding this foundational date is essential for property owners and assessors alike, as any changes to property ownership, improvements, or damages occurring after January 1st would not be reflected in that fiscal year’s tax assessment. This means that property taxes are set based on the status of properties as of the start of the year, which ultimately influences economic planning and the local budgeting process for municipalities.