Short Hills, Essex County, New Jersey Property Taxes

Name: Property Tax Bills Across Short Hills, Essex County, New Jersey
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Short Hills, NJ effective property tax rate: 1.94%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median Short Hills, NJ home value: $1,350,000
Median annual Short Hills, NJ tax bill: $26,230, $23,830 higher than the national median property tax bill of $2,400.

How are property taxes in Essex County calculated?

Property taxes in Short Hills, NJ are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Short Hills’ property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Short Hills, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Short Hills, Essex County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.94%

Estimate Property Tax Bill

$26,190

$24,304

Ownwell’s Short Hills Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Short Hills with just two data points. By entering your property's estimated assessed value, our calculator applies Short Hills’ median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Essex County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Short Hills, Essex County, New Jersey

Local government entities determine tax rates, which can significantly differ within a state. Annually, each county estimates its budget needs to provide essential services and divides this by the total value of all taxable property in its jurisdiction. This calculation establishes the property tax rate. While votes and laws influence these rates and budgets, this is the core process.

In Short Hills, located in Essex County, the effective property tax rate reflects this methodology. Compared to other cities in New Jersey, the rate in Short Hills is notably higher. When you consider the national median property tax rate of 1.02%, Short Hills' rate stands out as significantly above average. This means residents in Short Hills pay considerably more than the national median property tax bill of $2,400.

Understanding these rates can be crucial for property owners looking to manage their expenses. By appealing or seeking exemptions, there may be opportunities to reduce the financial burden. For those in Short Hills, exploring these options could provide significant savings, aligning with the broader goal of managing property tax costs effectively.

Property Tax Rates Across Short Hills, Essex County, New Jersey

Source: Ownwell

1.94%

3.95%

5.96%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Short Hills Tax Rate

1.94%

Median Effective Essex County Tax Rate

3.51%

Median Effective New Jersey Tax Rate

2.82%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Short Hills, Essex County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07078	1.94%	1.94%	1.94%	1.94%	1.94%

Source: Ownwell

Property Tax Assessment Values Across Short Hills, Essex County, New Jersey

When examining property taxes in Short Hills, NJ, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Essex County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: Essex County assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Short Hills. For example, the median home price in Short Hills is $1,350,000, with tax bills ranging significantly across the county. The 07078 zip code has the highest median home price at $1,350,000.

Property Tax Assessment Values Across Short Hills, Essex County, New Jersey

Source: Ownwell

$139,900

$749,150

$1,358,400

Median Short Hills Market Value

$1,350,000

Median Essex County Market Value

$335,900

Median New Jersey Market Value

$282,900

Median United States Market Value

$235,294

Property Tax Assessment Values Across Short Hills, Essex County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07078	$906,480	$1,084,000	$1,350,000	$1,815,900	$2,500,000

Source: Ownwell

Property Tax Bills Across Short Hills, Essex County, New Jersey

In Short Hills, Essex County, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. In this affluent area, the median home price is $1,350,000, contributing to a substantial property tax burden. The 25th percentile tax bill is $21,050, while the 75th percentile reaches $35,281. For those in the 90th percentile, it can soar to $48,575, far exceeding the national median property tax bill of $2,400. Such high tax bills can significantly impact homeowners' finances. Fortunately, Ownwell offers a solution by providing expert property tax appeal and exemption services. By analyzing property assessments, identifying inaccuracies, and leveraging local tax laws, Ownwell helps homeowners potentially reduce their tax liabilities. This service not only alleviates financial pressure but also ensures homeowners are not overpaying on their property taxes.

Property Tax Bills Across Short Hills, Essex County, New Jersey

Source: Ownwell

$5,626

$17,613

$29,600

Median Short Hills Tax Bill

$26,230

Median Essex County Tax Bill

$11,297

Median New Jersey Tax Bill

$8,227

Median United States Tax Bill

$2,400

Property Tax Bills Across Short Hills, Essex County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07078	$17,609	$21,050	$26,230	$35,281	$48,575

Source: Ownwell