Boonton Twp, Morris County, New Jersey Property Taxes

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

Median Boonton Twp, NJ effective property tax rate: 2.38%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Boonton Twp, NJ home value: $905,900
Median annual Boonton Twp, NJ tax bill: $21,515, $19,115 higher than the national median property tax bill of $2,400.

How are property taxes in Morris calculated?

Property taxes in Boonton Twp, 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 Boonton Twp’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Boonton Twp, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Boonton Twp, Morris County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.38%

Estimate Property Tax Bill

$21,560

$20,007

Ownwell’s Boonton Twp Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Boonton Twp with just two data points. By entering your property's estimated assessed value, our calculator applies Boonton Twp’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 Boonton Twp, Morris County, New Jersey

Local government entities in New Jersey set tax rates, which can vary significantly within the state. Each year, Morris County estimates its budget for services and divides it by the total value of all taxable property in the area. This calculation determines the property tax rate. While votes and laws influence the setting of tax rates and budgets, this is essentially the annual process. In Boonton Township, the effective property tax rate is notably higher than the national median rate of 1.02%, reflecting New Jersey's trend of having some of the highest property taxes in the nation. The median property tax rate in New Jersey is also significantly above the national average, contributing to the higher tax bills seen by property owners. Comparing Boonton Township’s rate to other cities in New Jersey and the national average highlights the state's commitment to funding local services through property taxes. This comparison underscores the importance of understanding local tax rates and exploring potential savings through property tax appeals and exemptions.

Property Tax Rates Across Boonton Twp, 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 Boonton Twp Tax Rate

2.38%

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 Boonton Twp, Morris County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07005	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Boonton Twp, Morris County, New Jersey

When examining property taxes in Boonton Twp, 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 Boonton Twp. For example, the median home price in Boonton Twp is $905,900, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Boonton Twp, Morris County, New Jersey

Source: Ownwell

$215,900

$831,650

$1,447,400

Median Boonton Twp Market Value

$905,900

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 Boonton Twp, Morris County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07005	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Boonton Twp, Morris County, New Jersey

In Boonton Township, located in Morris County, NJ, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the property's market value, which in this region is influenced by factors such as home size, location, and market conditions. The median home price in Boonton Township is $905,900, leading to substantial property tax bills that can greatly affect homeowners' budgets. For instance, the 25th percentile tax bill is $15,471, while the 75th percentile reaches $27,560, significantly higher than the national median property tax bill of $2,400.

These high property tax rates can be burdensome, but Ownwell can assist homeowners by offering expert property tax appeal services. By analyzing market data and comparable properties, Ownwell identifies opportunities for reducing assessed values, potentially lowering tax bills. This personalized approach ensures that homeowners only pay their fair share, providing financial relief and peace of mind in managing property taxes.

Property Tax Bills Across Boonton Twp, Morris County, New Jersey

Source: Ownwell

$5,771

$14,730

$23,689

Median Boonton Twp Tax Bill

$21,515

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 Boonton Twp, Morris County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07005	N/A	N/A	N/A	N/A	N/A

Source: Ownwell