Boonton Township, Morris County, New Jersey Property Taxes

Name: Property Tax Bills Across Boonton Township, Morris County, New Jersey
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Boonton Township, NJ effective property tax rate: 2.38%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median Boonton Township, NJ home value: $664,300
Median annual Boonton Township, NJ tax bill: $15,777, $13,377 higher than the national median property tax bill of $2,400.

How are property taxes in Morris County calculated?

Property taxes in Boonton Township, 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 Boonton Township’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Boonton Township, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Boonton Township, Morris County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.38%

Estimate Property Tax Bill

$15,810

$14,672

Ownwell’s Boonton Township Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Boonton Township with just two data points. By entering your property's estimated assessed value, our calculator applies Boonton Township’s 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 Morris County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Boonton Township, Morris County, New Jersey

Local government entities set tax rates, which can vary widely within a state. This is because each county estimates its required budget to provide services annually and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. In Boonton Township, located in Morris County, the effective property tax rate is significantly higher than the national median, reflecting the state's overall trend. With a median tax rate of 2.38%, New Jersey consistently ranks among the highest in the nation, far exceeding the national median of 1.02%. This can result in a substantial property tax bill for homeowners in the area, making it essential to explore potential appeals and exemptions. By understanding these rates and how they compare, property owners can better navigate their tax responsibilities and potentially reduce their financial burden.

Property Tax Rates Across Boonton Township, Morris County, New Jersey

Source: Ownwell

1.11%

2.23%

3.36%

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 Boonton Township Tax Rate

2.38%

Median Effective Morris County Tax Rate

2.63%

Median Effective New Jersey Tax Rate

2.82%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Boonton Township, Morris County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07005	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Boonton Township, Morris County, New Jersey

When examining property taxes in Boonton Township, 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 Morris 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.

In Morris 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 Boonton Township.

For example, the median home price in Boonton Township is $664,300, with tax bills ranging significantly across the county. 07005 has the highest median home price at $664,300.

Property Tax Assessment Values Across Boonton Township, Morris County, New Jersey

Source: Ownwell

$215,900

$831,650

$1,447,400

Median Boonton Township Market Value

$664,300

Median Morris County Market Value

$381,800

Median New Jersey Market Value

$282,900

Median United States Market Value

$235,294

Property Tax Assessment Values Across Boonton Township, Morris County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07005	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Boonton Township, Morris County, New Jersey

In Boonton Township, located in Morris County, NJ, property tax bills are determined by assessing the property's market value and applying the local tax rate. The median home price in this area is $664,300, significantly higher than the national average, which contributes to the elevated property tax bills. Homeowners in Boonton Township face substantial property tax bills, with the 25th percentile at $15,556 and the 90th percentile reaching $16,555, far exceeding the national median property tax bill of $2,400. This variation in tax bills is influenced by factors such as property size, location, and improvements, which can significantly impact the assessed value.

Ownwell can help homeowners in Boonton Township reduce their property tax burden by providing expert property tax appeal and exemption services. By analyzing the property's assessed value and identifying discrepancies or opportunities for exemptions, Ownwell ensures that homeowners only pay their fair share. This can lead to significant savings, allowing homeowners to allocate their financial resources more efficiently. With Ownwell's assistance, navigating the complex property tax system becomes a straightforward and beneficial process.

Property Tax Bills Across Boonton Township, Morris County, New Jersey

Source: Ownwell

$5,771

$14,730

$23,689

Median Boonton Township Tax Bill

$15,777

Median Morris County Tax Bill

$9,778

Median New Jersey Tax Bill

$8,227

Median United States Tax Bill

$2,400

Property Tax Bills Across Boonton Township, Morris County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07005	N/A	N/A	N/A	N/A	N/A

Source: Ownwell