Convent Station, Morris County, New Jersey Property Taxes
Median Convent Station, NJ effective property tax rate: 2.10%, significantly higher than the national median of 1.02%, and lower than the New Jersey state median of 2.88%.
Median Convent Station, NJ home value: $402,450
Median annual Convent Station, NJ tax bill: $8,371, $5,971 higher than the national median property tax bill of $2,400.
How are property taxes in Morris County calculated?
Property taxes in Convent Station, 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 Convent Station's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Convent Station, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Convent Station, Morris County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.1%
Estimate Property Tax Bill
$8,451
$7,843
Property Tax Rates Across Convent Station, Morris County, New Jersey
Local government entities determine tax rates, leading to significant variation within a state. Each year, counties estimate their budget needs for public services and divide this by the total value of all taxable property in their area to determine the property tax rate. This annual process involves votes and laws to set these rates and budgets.
In Convent Station, located in Morris County, NJ, the property tax landscape is quite distinctive. Morris County has a median property tax rate of 2.10%, which is notably higher than the national median of 1.02%. This means that residents in Convent Station are subject to a higher property tax rate compared to many other parts of the country.
When comparing Convent Station’s effective property tax rate to other cities in New Jersey, it aligns with the highest and lowest median tax rates found in the state, both recorded at 2.10%. This indicates a consistency in property tax rates across different areas within the state, yet highlights the higher burden faced by residents in comparison to the national average.
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 Convent Station Tax Rate
2.10%
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 Convent Station, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07961 | 1.60% | 2.09% | 2.10% | 2.10% | 2.10% |
Source: Ownwell
Property Tax Assessment Values Across Convent Station, Morris County, New Jersey
When examining property taxes in Convent Station, 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 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 Convent Station. For example, the median home price in Convent Station is $402,450, with tax bills ranging significantly across the county. Zip code 07961 has the highest median home price at $402,450.
Property Tax Assessment Values Across Convent Station, Morris County, New Jersey
Source: Ownwell
$222,300
$851,800
$1,481,300
Median Convent Station Market Value
$402,450
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 Convent Station, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07961 | $345,330 | $368,500 | $402,450 | $513,600 | $686,890 |
Source: Ownwell
Property Tax Bills Across Convent Station, Morris County, New Jersey
Property Tax Bills Across Convent Station, Morris County, New Jersey
Source: Ownwell
$6,529
$15,270
$24,010
Median Convent Station Tax Bill
$8,371
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 Convent Station, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07961 | $7,248 | $7,735 | $8,371 | $10,432 | $11,637 |
Source: Ownwell