General tax rate
The rate your town uses to figure each property's tax bill, stated per $100 of assessed value. Multiply your assessment by the rate to get your yearly tax. It is not the same as the effective tax rate.
New Jersey example
Say your home is assessed at $150,000 and your town's general tax rate is 3.758 per $100 of assessed value (0.03758 as a decimal). Your yearly tax is $150,000 x 0.03758 = $5,637. Don't use the effective tax rate for this; the state publishes that one only for comparing towns.
Official source
NJ Division of Taxation - Statistical Information
This is a plain-English summary. Rules and dollar amounts change, so check the official source or a professional before you file or sign anything.