Gillette, Morris County, New Jersey Property Taxes
Median Gillette, NJ effective property tax rate: 2.20%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Gillette, NJ home value: $486,200
Median annual Gillette, NJ tax bill: $10,642, $8,242 higher than the national median property tax bill of $2,400.
How are property taxes in Morris calculated?
Property taxes in Gillette, 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 Gillette’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Gillette, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Gillette, Morris County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.2%
Estimate Property Tax Bill
$10,696
$9,926
Property Tax Rates Across Gillette, Morris County, New Jersey
Local government entities set tax rates, which can vary widely within a state. This variation arises because each county annually estimates its budgetary needs to provide essential services, then divides this by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. Despite the involvement of votes and laws in setting these rates and budgets, this is essentially the annual process.
In Gillette, located in Morris County, New Jersey, the effective property tax rate stands out when compared to other cities in the state. New Jersey's property tax rate is notably higher than the national median of 1.02%, reflecting the state's commitment to funding public services. Gillette's property tax rate aligns with the highest and lowest median tax rates in its zip code.
When compared to the national median property tax bill of $2,400, property taxes in Gillette, NJ, underscore the broader trend of higher property taxes in the region. Understanding these rates can help property owners in Gillette make informed decisions about appealing or seeking exemptions to manage their tax liabilities effectively.
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 Gillette Tax Rate
2.20%
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
2.63%
Median Effective New Jersey Tax Rate
2.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Gillette, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07933 | 1.99% | 2.07% | 2.20% | 2.25% | 2.31% |
Source: Ownwell
Property Tax Assessment Values Across Gillette, Morris County, New Jersey
When examining property taxes in Gillette, 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. Morris County 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 Gillette. For example, the median home price in Gillette is $486,200, with tax bills ranging significantly across the county. Zip code 07933 has the highest median home price at $486,200.
Property Tax Assessment Values Across Gillette, Morris County, New Jersey
Source: Ownwell
$215,900
$831,650
$1,447,400
Median Gillette Market Value
$486,200
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 Gillette, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07933 | $358,880 | $407,800 | $486,200 | $640,600 | $761,860 |
Source: Ownwell
Property Tax Bills Across Gillette, Morris County, New Jersey
Median Gillette Tax Bill
$10,642
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 Gillette, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07933 | $7,494 | $8,791 | $10,642 | $14,148 | $16,987 |
Source: Ownwell