Long Valley, Morris County, New Jersey Property Taxes
Median Long Valley, NJ effective property tax rate: 2.68%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Long Valley, NJ home value: $425,050
Median annual Long Valley, NJ tax bill: $11,250, $8,850 higher than the national median property tax bill of $2,400.
How are property taxes in Morris calculated?
Property taxes in Long Valley, 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 Long Valley’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Long Valley, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Long Valley, Morris County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.68%
Estimate Property Tax Bill
$11,391
$10,571
Ownwell’s Long Valley Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Long Valley with just two data points.
By entering your property's estimated assessed value, our calculator applies Long Valley’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 Long Valley, Morris County, New Jersey
Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.
In Long Valley, located in Morris County, the effective property tax rate is 2.68%, which is significantly higher than the national median of 1.02%. This means that residents of Long Valley face a property tax rate that is among the highest in the nation. The median property tax bill in this region is also notably higher than the national median of $2,400. Such rates underscore the importance of understanding local tax policies and seeking potential exemptions or appeals to manage property tax liabilities effectively. Comparing Long Valley’s effective property tax rate with other cities in New Jersey and the median rates in the state and the U.S. provides valuable insights into local tax burdens.
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 Long Valley Tax Rate
2.68%
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 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 Long Valley, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07853 | 2.53% | 2.68% | 2.68% | 2.68% | 2.68% |
Source: Ownwell
Property Tax Assessment Values Across Long Valley, Morris County, New Jersey
When examining property taxes in Long Valley, 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 Long Valley. For example, the median home price in Long Valley is $425,050, with tax bills ranging significantly across the county. Zip code 07853 has the highest median home price at $425,050.
Property Tax Assessment Values Across Long Valley, Morris County, New Jersey
Source: Ownwell
$215,900
$831,650
$1,447,400
Median Long Valley Market Value
$425,050
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 Long Valley, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07853 | $289,290 | $340,650 | $425,050 | $533,825 | $673,120 |
Source: Ownwell
Property Tax Bills Across Long Valley, Morris County, New Jersey
In Long Valley, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the tax bill. This region is known for its high property taxes, with the median tax bill reaching $11,250, significantly higher than the national median of $2,400. Several factors can influence the tax bill, including changes in property value, local government budgets, and school funding requirements. Homeowners in Long Valley face substantial tax burdens, which can impact their financial planning and housing affordability.
Ownwell offers a valuable service to help homeowners in Long Valley potentially reduce their property tax bills. By providing expert property tax appeal and exemption services, Ownwell can identify discrepancies in property assessments and ensure homeowners are not overpaying. With a thorough understanding of local tax laws and regulations, Ownwell can effectively navigate the appeals process, potentially saving homeowners thousands of dollars annually on their property taxes.
Median Long Valley Tax Bill
$11,250
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 Long Valley, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07853 | $7,604 | $9,039 | $11,250 | $14,228 | $18,035 |
Source: Ownwell