New Milford, Bergen County, New Jersey Property Taxes
Property Taxes in New Milford, New Jersey
Median New Milford, New Jersey effective property tax rate: 3.92%, significantly higher than the national median of 1.02%, and higher than the New Jersey state median of 2.88%.
Median New Milford, New Jersey home value: $312,550
Median annual New Milford, New Jersey tax bill: $12,107, $9,707 higher than the national median property tax bill of $2,400.
How are property taxes in Bergen calculated?
Property taxes in New Milford, New Jersey 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 New Milford's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in New Milford, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
New Milford, Bergen County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.92%
Estimate Property Tax Bill
$12,252
$11,369
How Does the New Milford Property Tax Calculator Work?
Use this New Milford property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies New Milford's median effective tax rate of 3.92% — based on actual property records in Bergen County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment system uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies New Milford's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within New Milford: rates range from 3.92% in 07646 to 3.92% in 07646, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across New Milford.
About New Milford Property Taxes
About Property Taxes in New Milford, Bergen, New Jersey
New Milford’s median effective property tax rate of 3.92% is higher than the New Jersey state median of 2.88% and higher than the national median of 1.02%. This rate reflects the Bergen County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across New Milford. Homeowners in the 07646 ZIP code carry a median effective rate of 3.92%, while those in the same ZIP code pay 3.92%. This spread — 0 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Bergen County. Understanding which part of New Milford you live in can make a meaningful difference to your annual tax bill.
New Milford homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the April 1, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across New Milford, Bergen County, New Jersey
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? 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.
Below, you can compare New Milford's effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S.
Our median effective property tax rate (tax bill Ă· 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 New Milford Tax Rate
3.92%
Our median effective property tax rate (tax bill Ă· 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 Bergen County Tax Rate
2.68%
Median Effective New Jersey Tax Rate
2.88%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across New Milford, Bergen County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07646 | 3.91% | 3.91% | 3.91% | 3.92% | 3.92% |
Source: Ownwell
Property Tax Assessment Values Across New Milford, Bergen County, New Jersey
When examining property taxes in New Milford, New Jersey, 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 Bergen County tax assessor 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.
Assessment notices:
In Bergen County, assessment notices are sent in February each year. They’ll typically reach your mailbox by the middle of the month.
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 understanding how these values are determined, property owners can better navigate property taxes in New Milford and compare local bills with the national median property tax bill of $2,400.
For example, the median home price in New Milford is $312,550, with the median tax bill at $12,107. The highest median home price in the area is in 07646, also at $312,550.
Property Tax Assessment Values Across New Milford, Bergen County, New Jersey
Source: Ownwell
$274,000
$1,234,400
$2,194,800
Median New Milford Market Value
$312,550
Median Bergen County Market Value
$467,100
Median New Jersey Market Value
$288,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across New Milford, Bergen County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07646 | $251,330 | $278,700 | $312,550 | $355,400 | $444,200 |
Source: Ownwell
Property Tax Bills Across New Milford, Bergen County, New Jersey
How are property tax bills calculated in New Milford?
Property tax bills in New Milford are based on a home’s assessed value and the local tax rate set by Bergen County and other taxing authorities. The amount a homeowner owes is determined by multiplying the assessed market value of the property by the applicable tax rate, so changes in value or rates can affect the final bill. With a median home price of $312,550, property taxes can be substantial, and the bill often reflects how local budgets are funded for schools, municipal services, and other public needs.
What factors influence the bill?
The biggest factors are the home’s assessed value, the local tax rate, and any exemptions or appeals that may reduce the taxable amount. In New Milford, tax bills are high relative to the national median property tax bill of $2,400, and the typical homeowner faces a median bill of $12,107. Bills can range from $10,774 at the 25th percentile to $16,924 at the 90th percentile, which shows how much costs can vary from one property to another.
Median New Milford Tax Bill
$12,107
Median Bergen County Tax Bill
$11,614
Median New Jersey Tax Bill
$8,638
Median United States Tax Bill
$2,400
Property Tax Bills Across New Milford, Bergen County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07646 | $9,627 | $10,774 | $12,107 | $13,710 | $16,924 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 1 |
Links | |
|---|---|
| Bergen Tax Assessor | |
| Website | taxrecords-nj.com |