Short Hills, Morris County, New Jersey Property Taxes

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

Median Short Hills, NJ effective property tax rate: 2.79%, 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: $404,700
Median annual Short Hills, NJ tax bill: $11,307, $8,907 higher than the national median property tax bill of $2,400.

How are property taxes in Morris 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, Morris County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.79%

Estimate Property Tax Bill

$11,291

$10,478

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 Morris County. For those interested in more localized information, please scroll down to explore city-level trends!

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

Local government entities set tax rates, which can vary widely within a state. 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 Short Hills, located in Morris County, New Jersey, property owners experience an effective tax rate that stands out compared to other cities in the state. New Jersey's median property tax rate is significantly higher than the national median of 1.02%. This discrepancy highlights the importance of understanding local tax rates and their impact on property owners. Comparing Short Hills' rate to both the state and national medians provides valuable insight for homeowners. Such insights can guide property owners in making informed decisions about appealing their property taxes or seeking exemptions. Understanding these nuances can lead to significant savings and ensure that property owners are not overpaying on their taxes.

Property Tax Rates Across Short Hills, 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 Short Hills Tax Rate

2.79%

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 Short Hills, Morris County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07078	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Short Hills, Morris 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 Morris County Tax Assessor's Office 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 Short Hills. For example, the median home price in Short Hills is $404,700, with tax bills ranging significantly across the county. 07078 has the highest median home price at $404,700.

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

Source: Ownwell

$215,900

$831,650

$1,447,400

Median Short Hills Market Value

$404,700

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 Short Hills, Morris County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07078	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

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

In Short Hills, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. In Morris County, where Short Hills is located, the property tax rate is significantly higher than the national median of 1.02%. Homeowners in Short Hills face a median property tax bill of $11,307, which is considerably above the national median of $2,400. This high tax bill can be attributed to the area's high median home price of $404,700.

For homeowners in Short Hills, high property taxes can be a financial burden. However, Ownwell can assist by reviewing property assessments to ensure they are accurate and fair. By identifying discrepancies or overvaluations, Ownwell helps homeowners file appeals, potentially reducing their tax bills. This service can lead to substantial savings, providing financial relief and peace of mind to homeowners burdened by high property taxes.

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

Source: Ownwell

$5,771

$14,730

$23,689

Median Short Hills Tax Bill

$11,307

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 Short Hills, Morris County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07078	N/A	N/A	N/A	N/A	N/A

Source: Ownwell