Brookside, Morris County, New Jersey Property Taxes
Median Brookside, NJ effective property tax rate: 2.03%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Brookside, NJ home value: $620,750
Median annual Brookside, NJ tax bill: $12,570, $10,170 higher than the national median property tax bill of $2,400.
How are property taxes in Morris calculated?
Property taxes in Brookside, 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 Brookside’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Brookside, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Brookside, Morris County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.9%
Estimate Property Tax Bill
$13,686
$12,700
Property Tax Rates Across Brookside, Morris County, New Jersey
Local government entities determine tax rates, which can differ significantly within a state. The process involves each county estimating its annual budget to fund services, then dividing this by the total value of all taxable property in its area. This calculation establishes the property tax rate. Though votes and laws play a role in setting these rates and budgets, this is the core of the annual procedure.
In Brookside, located in Morris County, NJ, the effective property tax rate is a notable 2.03%. This rate is considerably higher than the national median property tax rate of 1.02%, and it also exceeds the state median. Such a high rate can significantly impact property owners, making it essential to explore potential savings through tax appeals or exemptions.
Comparing Brookside’s rate to other cities in New Jersey underscores the importance of understanding local property tax dynamics. With property taxes being a substantial financial burden, knowing your local tax rate and exploring possible reductions can lead to significant 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 Brookside Tax Rate
1.90%
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
2.60%
Median Effective New Jersey Tax Rate
2.88%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Brookside, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07926 | 1.83% | 1.86% | 1.90% | 1.91% | 1.93% |
Source: Ownwell
Property Tax Assessment Values Across Brookside, Morris County, New Jersey
When examining property taxes in Brookside, 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 Brookside. For example, the median home price in Brookside is $620,750, with tax bills ranging significantly across the county. 07926 has the highest median home price at $620,750.
Property Tax Assessment Values Across Brookside, Morris County, New Jersey
Source: Ownwell
$222,300
$851,800
$1,481,300
Median Brookside Market Value
$720,300
Median Morris County Market Value
$411,600
Median New Jersey Market Value
$288,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Brookside, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07926 | $538,890 | $602,825 | $720,300 | $846,025 | $1,038,860 |
Source: Ownwell
Property Tax Bills Across Brookside, Morris County, New Jersey
Median Brookside Tax Bill
$13,623
Median Morris County Tax Bill
$10,340
Median New Jersey Tax Bill
$8,638
Median United States Tax Bill
$2,400
Property Tax Bills Across Brookside, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07926 | $10,150 | $11,418 | $13,623 | $16,161 | $19,862 |
Source: Ownwell