Lincoln Park, Morris County, New Jersey Property Taxes

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

Median Lincoln Park, NJ effective property tax rate: 2.88%, significantly higher than the national median of 1.02%, but slightly higher than the New Jersey state median of 2.82%.
Median Lincoln Park, NJ home value: $313,400
Median annual Lincoln Park, NJ tax bill: $8,815, $6,415 higher than the national median property tax bill of $2,400.

How are property taxes in Morris calculated?

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

Last Updated March 1, 2025

Lincoln Park, Morris County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.88%

Estimate Property Tax Bill

$9,026

$8,376

Ownwell’s Lincoln Park Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lincoln Park with just two data points. By entering your property's estimated assessed value, our calculator applies Lincoln Park’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by Morris 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 Lincoln Park, Morris County, New Jersey

Local government entities set tax rates, which can vary widely within a state. This is because each county annually estimates its required budget to provide services 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 Lincoln Park, Morris County, NJ, the effective property tax rate stands out when compared to other cities in New Jersey and the national average. The median property tax rate in Lincoln Park is significantly higher than the national median of 1.02%. This reflects the broader trend in New Jersey, where property tax rates are among the highest in the country. Homeowners in Lincoln Park face a substantial property tax burden, which underscores the importance of understanding and potentially appealing property tax assessments. Comparing local rates to the state and national averages can provide valuable insights for homeowners seeking to manage their property tax liabilities effectively.

Property Tax Rates Across Lincoln Park, 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 Lincoln Park Tax Rate

2.88%

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 Lincoln Park, Morris County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07035	2.67%	2.81%	2.88%	2.88%	2.88%

Source: Ownwell

Property Tax Assessment Values Across Lincoln Park, Morris County, New Jersey

When examining property taxes in Lincoln Park, 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 Lincoln Park.

For example, the median home price in Lincoln Park is $313,400, with tax bills ranging significantly across the county. Zip code 07035 has the highest median home price at $313,400.

Property Tax Assessment Values Across Lincoln Park, Morris County, New Jersey

Source: Ownwell

$215,900

$831,650

$1,447,400

Median Lincoln Park Market Value

$313,400

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 Lincoln Park, Morris County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07035	$220,060	$253,300	$313,400	$367,600	$456,860

Source: Ownwell

Property Tax Bills Across Lincoln Park, Morris County, New Jersey

In Lincoln Park, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. With a median home price of $313,400, homeowners in Lincoln Park can expect a tax bill significantly higher than the national median, with the 25th percentile tax bill at $7,132 and the 75th percentile reaching $10,373. The tax bill can rise to as much as $12,856 for those in the 90th percentile. These figures highlight the substantial property tax burden faced by homeowners in this area, which is notably higher than the national median property tax bill of $2,400. Ownwell assists homeowners by reviewing their property assessments and identifying potential savings through appeals or exemptions. By leveraging expert knowledge and data-driven insights, Ownwell can help reduce the property tax burden, ensuring that homeowners in Lincoln Park pay only their fair share.

Property Tax Bills Across Lincoln Park, Morris County, New Jersey

Source: Ownwell

$5,771

$14,730

$23,689

Median Lincoln Park Tax Bill

$8,815

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 Lincoln Park, Morris County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07035	$6,176	$7,132	$8,815	$10,373	$12,856

Source: Ownwell