48 MADISON AVE
Morristown Town, Morris County · Block 4201, Lot 1
Assessments are tax year 2026; latest published general rate we have is 2025. Estimate uses that rate until the 2026 rate is loaded.
Estimated tax up $183,150 ($1,559,250 → $1,742,400) using 2024→2025 rates (1.575 → 1.760) × assessed net.
Assessment net change: 0.0% ($99,000,000 → $99,000,000).
Assessment
| Land | $16,400,500 |
|---|---|
| Improvements | $82,599,500 |
| Net (taxable assessed, 2026) | $99,000,000 |
| Town avg ratio used | 90.51% (Average ratio (Director’s / Chapter 123)) |
| Implied equalized value | $109,380,179 |
| 2025 tax (MOD-IV billed) | $1,742,400.00 |
| Est. 2025 tax @ general rate | $1,742,400 |
| Mailing address (2026) | 475 SOUTH ST- 2ND FLR, MORRISTOWN NJ, 07962 |
How the ratio works: New Jersey towns often assess below full market value. The average ratio (Director’s / Chapter 123) estimates what percent of true market value the town’s assessments represent. Implied equalized value ≈ assessed net ÷ (ratio ÷ 100). Example: assessed $187,600 at 55.89% ≈ $335,700 equalized. Tax bills still use assessed value × the general tax rate — not the equalized figure.
The stored sale is not used for a change-since-sale figure. SR1A 3 — Sale between a company and its owner or a related company marks it non-usable, or the price is a nominal amount.
Building permits for 48 MADISON AVE
The New Jersey construction-permit file lists 50 permits for 48 MADISON AVE in Morristown Town. 35 are still open in the state file. Permit 20200660, a new building, was issued 19 Nov 2020 and closed 10 Mar 2022 with a Certificate of Occupancy. The reported cost is $7,303,500. The reported size is 2,357 square feet.
| Permit | Type | Use | Issued | Closed | Reported cost |
|---|---|---|---|---|---|
| 20200593 | Alteration | Medical, nursing care, for 6+ occupants | 19 Oct 2020 | 4 Nov 2021, Temporary Certificate of Occupancy | $6,130,000 |
| 20200660 | New | Factory and industrial, moderate hazard | 19 Nov 2020 | 10 Mar 2022, Certificate of Occupancy | $7,303,500 |
| 20210237 | Alteration | Medical, nursing care, for 6+ occupants | 29 Mar 2021 | 6 Jul 2021, Certificate of Approval | $315,000 |
| 20200660+D | Alteration | Factory and industrial, moderate hazard | 28 Jul 2021 | Open in the state file | $72,000 |
| 20200593+B | Alteration | Medical, nursing care, for 6+ occupants | 23 Aug 2021 | Open in the state file | $40,000 |
| 20200593+C | Alteration | Medical, nursing care, for 6+ occupants | 23 Aug 2021 | Open in the state file | $75,000 |
| 20210738 | Alteration | Medical, nursing care, for 6+ occupants | 5 Nov 2021 | Open in the state file | $0 |
| 20200660+F | Alteration | Factory and industrial, moderate hazard | 10 Dec 2021 | Open in the state file | $46,000 |
| 20210913 | Alteration | Medical, nursing care, for 6+ occupants | 30 Dec 2021 | 22 Apr 2024, Certificate of Approval | $502,828 |
| 20200660+E | Alteration | Medical, nursing care, for 6+ occupants | 18 Jan 2022 | Open in the state file | $150,000 |
| 20220221+B | Alteration | Medical, nursing care, for 6+ occupants | 24 Mar 2022 | Open in the state file | $9,500 |
| 20220221 | Alteration | Medical, nursing care, for 6+ occupants | 24 Mar 2022 | 30 Jun 2022, Certificate of Approval | $213,000 |
| 20220221+A | Alteration | Medical, nursing care, for 6+ occupants | 24 Mar 2022 | Open in the state file | $75,000 |
| 20220221+C | Alteration | Medical, nursing care, for 6+ occupants | 9 Jun 2022 | Open in the state file | $3,000 |
| 20220462 | Alteration | Medical, nursing care, for 6+ occupants | 14 Jun 2022 | 3 Aug 2022, Certificate of Occupancy | $310,000 |
| 20220462+A | Alteration | Medical, nursing care, for 6+ occupants | 14 Jun 2022 | Open in the state file | $40,450 |
| 20220462+C | Alteration | Medical, nursing care, for 6+ occupants | 7 Jul 2022 | Open in the state file | $2,000 |
| 20220462+B | Alteration | Medical, nursing care, for 6+ occupants | 7 Jul 2022 | Open in the state file | $10,000 |
| 20220573+A | Alteration | Medical, nursing care, for 6+ occupants | 8 Aug 2022 | Open in the state file | $70,000 |
| 20220573 | Alteration | Medical, nursing care, for 6+ occupants | 8 Aug 2022 | 5 Oct 2022, Temporary Certificate of Occupancy | $415,000 |
| 20220573+B | Alteration | Medical, nursing care, for 6+ occupants | 23 Aug 2022 | Open in the state file | $5,000 |
| 20220573+C | Alteration | Medical, nursing care, for 6+ occupants | 23 Aug 2022 | Open in the state file | $19,500 |
| 20220675 | Alteration | Medical, nursing care, for 6+ occupants | 23 Sep 2022 | 7 Feb 2023, Certificate of Occupancy | $1,280,000 |
| 20220675+A | Alteration | Medical, nursing care, for 6+ occupants | 23 Sep 2022 | Open in the state file | $58,000 |
| 20220704+A | Alteration | Medical, nursing care, for 6+ occupants | 5 Oct 2022 | Open in the state file | $350,000 |
| 20220704 | Alteration | Medical, nursing care, for 6+ occupants | 5 Oct 2022 | 5 Apr 2023, Temporary Certificate of Occupancy | $375,000 |
| 20220755 | Alteration | Accessory buildings and miscellaneous structures | 3 Nov 2022 | Open in the state file | $1,586,378 |
| 20230025 | Alteration | Medical, nursing care, for 6+ occupants | 17 Jan 2023 | 7 Jun 2023, Certificate of Occupancy | $570,000 |
| 20220755+A | Alteration | Accessory buildings and miscellaneous structures | 14 Feb 2023 | Open in the state file | $0 |
| 20230116 | Alteration | Medical, nursing care, for 6+ occupants | 16 Mar 2023 | 20 Oct 2023, Temporary Certificate of Occupancy | $2,300,000 |
| 20230116+A | Alteration | Medical, nursing care, for 6+ occupants | 16 Mar 2023 | Open in the state file | $450,000 |
| 20230124 | Alteration | Medical, nursing care, for 6+ occupants | 20 Mar 2023 | 7 Aug 2023, Temporary Certificate of Occupancy | $444,000 |
| 20230124+A | Alteration | Medical, nursing care, for 6+ occupants | 20 Mar 2023 | Open in the state file | $40,555 |
| 20230124+B | Alteration | Medical, nursing care, for 6+ occupants | 28 Jun 2023 | Open in the state file | $7,200 |
| 20230124+C | Alteration | Medical, nursing care, for 6+ occupants | 28 Jun 2023 | Open in the state file | $5,000 |
| 20230377 | Alteration | Medical, nursing care, for 6+ occupants | 6 Jul 2023 | 9 Mar 2024, Temporary Certificate of Occupancy | $1,232,500 |
| 20230116+D | Alteration | Medical, nursing care, for 6+ occupants | 18 Sep 2023 | Open in the state file | $25,000 |
| 20230116+C | Alteration | Medical, nursing care, for 6+ occupants | 18 Sep 2023 | Open in the state file | $7,500 |
| 20230615 | Alteration | Medical, nursing care, for 6+ occupants | 30 Oct 2023 | Open in the state file | $24,950 |
| 20240040+A | Alteration | Medical, nursing care, for 6+ occupants | 23 Jan 2024 | Open in the state file | $450,000 |
| 20240040 | Alteration | Medical, nursing care, for 6+ occupants | 23 Jan 2024 | 26 Jun 2024, Certificate of Occupancy | $2,275,000 |
| 20240040+C | Alteration | Medical, nursing care, for 6+ occupants | 15 Apr 2024 | Open in the state file | $50,000 |
| 20240040+B | Alteration | Medical, nursing care, for 6+ occupants | 15 Apr 2024 | Open in the state file | $50,000 |
| 20240282 | Alteration | Medical, nursing care, for 6+ occupants | 20 May 2024 | 19 Aug 2024, Temporary Certificate of Occupancy | $1,075,000 |
| 20240282+A | Alteration | Medical, nursing care, for 6+ occupants | 20 May 2024 | Open in the state file | $400,000 |
| 20240282+B | Alteration | Medical, nursing care, for 6+ occupants | 20 May 2024 | Open in the state file | $25,000 |
| 20240040+D | Alteration | Medical, nursing care, for 6+ occupants | 10 Jun 2024 | Open in the state file | $0 |
| 20240040+E | Alteration | Medical, nursing care, for 6+ occupants | 11 Jun 2024 | Open in the state file | $150,000 |
| 20240282+D | Alteration | Medical, nursing care, for 6+ occupants | 25 Jun 2024 | Open in the state file | $10,000 |
| 20240282+C | Alteration | Medical, nursing care, for 6+ occupants | 18 Jul 2024 | Open in the state file | $12,000 |
The file does not name the work. This file is a full record from 2021 on. Older permits are mostly missing. A repair from before then can be absent here and still be at the Morristown Town construction office.
Flood zone for 48 MADISON AVE
FEMA’s flood map did not respond for 48 MADISON AVE. Assessment and tax figures on this page are from our own records.
The high and low ground elevation could not be read for this lot.
Water and sewer for 48 MADISON AVE
This lot is within the Butterworth STP sewer system. Please verify with the provider.
This lot is within the South East Morris County MUA water system. Please verify with the provider.
These lines come from the state’s sewer service areas and public community water areas, read at a point for this address. That point can fall in the street. Being inside a named area means the lot is inside that mapped system, not that a pipe or a meter is on the house. Being outside means the lot is outside the mapped service area, which is usually a septic system or a private well. It is not a hookup record. Please verify with the provider. How we read water and sewer.
Year-by-year assessed value & tax
From NJ MOD-IV files (2023, 2024, 2025, 2026). Tax is the MOD-IV billed amount when present; otherwise —. Current mailing is in Assessment above.
| Year | Assessed net | Tax |
|---|---|---|
| 2026 | $99,000,000 | — |
| 2025 | $99,000,000 | $1,742,400.00 |
| 2024 | $99,000,000 | $1,559,250.00 |
| 2023 | $40,000,000 | $1,162,400.00 |
Assessed value & ratio history
Parcel assessed nets come from MOD-IV year files (2023, 2024, 2025, 2026). Town average ratios are from Abstract / Chapter 123 when available — implied equalized = assessed ÷ (ratio ÷ 100).
| Tax year | Assessed net | Avg ratio | Implied equalized | Assessed Δ | Equalized Δ |
|---|---|---|---|---|---|
| 2023 | $40,000,000 | 78.16% | $51,177,073 | — | — |
| 2024 | $99,000,000 | 100.00% | $99,000,000 | +147.5% | +93.4% |
| 2025 | $99,000,000 | 96.15% | $102,964,119 | 0.0% | +4.0% |
| 2026 | $99,000,000 | 90.51% | $109,380,179 | 0.0% | +6.2% |
2024: Published average ratio exceeded 100%; New Jersey treats that as 100% for equalization.
Tax year history
Assessed net is from that year’s MOD-IV file. Est. tax = assessed × that year’s general rate when we have the rate sheet. Billed tax is the MOD-IV tax field when present (often empty for the newest file year).
| Tax year | Assessment net | General rate | Est. tax (that year) | Billed tax | Est. vs prior |
|---|---|---|---|---|---|
| 2023 | $40,000,000 | 2.906 | $1,162,400 | $1,162,400.00 | — |
| 2024 | $99,000,000 | 1.575 | $1,559,250 | $1,559,250.00 | +34.1% |
| 2025 | $99,000,000 | 1.760 | $1,742,400 | $1,742,400.00 | +11.7% |
| 2026 | $99,000,000 | — | — | — | — |
Where your money goes
Component $ = net × (component rate ÷ 100). Percents are share of school + county + municipal components for rate year 2025.
Of the estimated increase of $183,150, the school portion moved $128,700 up, the county portion $24,750 up, and the municipal portion $29,700 up. Those are pieces of the dollar change. They are not a change in each share of the rate.
| Regional / consolidated school (0.905) | $895,950 |
|---|---|
| County (0.241) | $238,590 |
| County open space (0.007) | $6,930 |
| Municipal purpose (0.570) | $564,300 |
| Municipal library (0.037) | $36,630 |
Property details
| Class | 4A — Commercial |
|---|---|
| Building class | — |
| Building | HOSPITAL |
| Land description | 23.01 ACRES+/- |
| Dwellings | — |
| Commercial units | — |
| Year built | — |
| Acreage | 23.01 |
| Zoning | R-2 — town zoning code |
| Tax map page | — |
| Additional lots | — |
| Census tract / block | — |
| Special tax codes | — |
| MOD-IV current-year tax | — |
| Last sale | $1 · 6/4/2007 · sale assessment $1,552,500 · SR1A 3 — Sale between a company and its owner or a related company |
| Deed book / page | 20845 / 01166 |
The class, building class, SR1A, and special-tax words are the state’s names for those codes. The zoning code is the town’s. A code that is not on the state list keeps the code and says so.
See this lot on the statewide map, then come back for the full tax story.
Show on mapSources: NJ Division of Taxation MOD-IV (current parcel file) and tax rates for 2025 (Abstract of Ratables). Building permits are read live from the NJ construction-permit file for this block and lot. The flood zone is read live from FEMA’s flood map at a point for this address. The high and low are read live from the state’s 10-foot ground scan. Water and sewer are read live from the state’s service-area maps at that same point. Those map readings are estimates, not a survey and not a hookup record. Estimates are not an official tax bill. Owner names are not shown. Water and sewer · Full disclaimer.