Wantage, Sussex County, New Jersey Property Taxes
Median Wantage, NJ effective property tax rate: 2.88%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Wantage, NJ home value: $156,900
Median annual Wantage, NJ tax bill: $4,514, $2,114 higher than the national median property tax bill of $2,400.
How are property taxes in Sussex calculated?
Property taxes in Wantage, 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 Wantage’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Wantage, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Wantage, Sussex County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.88%
Estimate Property Tax Bill
$4,519
$4,193
Property Tax Rates Across Wantage, Sussex County, New Jersey
Local government entities determine tax rates, which can vary significantly within New Jersey. This variance is due to each county estimating its annual budget for services and dividing it by the total assessed value of all taxable property in its area. This calculation establishes the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the yearly process.
In Wantage, located in Sussex County, the effective property tax rate is notably higher than both the state and national medians. New Jersey's median property tax rate is substantially above the national median of 1.02%. This places a considerable financial burden on property owners, as the median property tax bill in New Jersey far exceeds the national median of $2,400. For homeowners in Wantage, understanding these rates is crucial for financial planning and exploring potential property tax appeals or exemptions. By comparing Wantage’s effective property tax rate to other cities in New Jersey and the broader U.S., residents can gain valuable insights into their property tax obligations and potential savings.
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 Wantage Tax Rate
2.88%
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 Sussex County Tax Rate
3.40%
Median Effective New Jersey Tax Rate
2.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Wantage, Sussex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07461 | 2.88% | 2.88% | 2.88% | 2.88% | 2.88% |
Source: Ownwell
Property Tax Assessment Values Across Wantage, Sussex County, New Jersey
When examining property taxes in Wantage, 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 Sussex 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 Sussex 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 Wantage. For example, the median home price in Wantage is $156,900, with tax bills ranging significantly across the county. 07461 has the highest median home price at $156,900.
Property Tax Assessment Values Across Wantage, Sussex County, New Jersey
Source: Ownwell
$156,900
$263,075
$369,250
Median Wantage Market Value
$156,900
Median Sussex County Market Value
$229,300
Median New Jersey Market Value
$282,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across Wantage, Sussex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07461 | $121,960 | $134,600 | $156,900 | $227,150 | $507,700 |
Source: Ownwell
Property Tax Bills Across Wantage, Sussex County, New Jersey
In Wantage, NJ, property tax bills are determined by the assessed value of a home and the local tax rate. With a median home price of $156,900, homeowners face a significant tax burden compared to the national median property tax bill of $2,400. In Sussex County, the median tax bill is $4,514, which is considerably higher than the national average. Factors such as property size, location, and improvements can influence the assessed value, impacting the final tax bill. For instance, the 25th percentile tax bill is $3,872, while the 75th percentile reaches $6,535, and the 90th percentile can soar to $14,607. These figures highlight the potential variability in tax obligations for homeowners in the region.
Ownwell offers a solution to mitigate these high costs by providing expert property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies, Ownwell helps homeowners potentially reduce their tax bills, ensuring they pay only their fair share. This service not only offers financial relief but also peace of mind.
Median Wantage Tax Bill
$4,514
Median Sussex County Tax Bill
$7,518
Median New Jersey Tax Bill
$8,227
Median United States Tax Bill
$2,400
Property Tax Bills Across Wantage, Sussex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07461 | $3,509 | $3,872 | $4,514 | $6,535 | $14,607 |
Source: Ownwell