Netcong, Morris County, New Jersey Property Taxes
Median Netcong, NJ effective property tax rate: 3.12%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median Netcong, NJ home value: $259,750
Median annual Netcong, NJ tax bill: $7,979, $5,579 higher than the national median property tax bill of $2,400.
How are property taxes in Morris calculated?
Property taxes in Netcong, 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 Netcong’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Netcong, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Netcong, Morris County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.12%
Estimate Property Tax Bill
$8,104
$7,520
Property Tax Rates Across Netcong, Morris County, New Jersey
Local government entities set tax rates, which can vary widely within a state. This is because annually, each county 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.
Netcong, located in Morris County, New Jersey, has a notably high effective property tax rate. With a median property tax rate of 3.12%, it stands significantly above the national median of 1.02%. This rate is also among the highest in New Jersey, highlighting the substantial property tax burden residents face. Comparing this to the national median property tax bill of $2400, residents of Netcong likely encounter much higher annual property tax bills. Understanding these figures is crucial for property owners who wish to appeal or seek exemptions. By doing so, they can potentially reduce their financial burden and ensure they are not overpaying compared to other regions within the state or across the country.
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 Netcong Tax Rate
3.12%
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 Netcong, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07857 | 2.90% | 3.04% | 3.12% | 3.12% | 3.12% |
Source: Ownwell
Property Tax Assessment Values Across Netcong, Morris County, New Jersey
When examining property taxes in Netcong, 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 May. 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 Netcong.
For example, the median home price in Netcong is $259,750, with tax bills ranging significantly across the county. 07857 has the highest median home price at $259,750.
Property Tax Assessment Values Across Netcong, Morris County, New Jersey
Source: Ownwell
$215,900
$831,650
$1,447,400
Median Netcong Market Value
$259,750
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 Netcong, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07857 | $198,140 | $226,850 | $259,750 | $298,275 | $349,730 |
Source: Ownwell
Property Tax Bills Across Netcong, Morris County, New Jersey
Median Netcong Tax Bill
$7,979
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 Netcong, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07857 | $5,990 | $6,943 | $7,979 | $9,126 | $10,808 |
Source: Ownwell