Kenvil, Morris County, New Jersey Property Taxes
Median Kenvil, NJ effective property tax rate: 2.63%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Kenvil, NJ home value: $269,300
Median annual Kenvil, NJ tax bill: $7,008, $4,608 higher than the national median property tax bill of $2,400.
How are property taxes in Morris calculated?
Property taxes in Kenvil, 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 Kenvil’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Kenvil, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Kenvil, Morris County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.63%
Estimate Property Tax Bill
$7,083
$6,572
Property Tax Rates Across Kenvil, Morris County, New Jersey
Local government entities set tax rates, which can vary widely within a state. 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.
Kenvil in Morris County, NJ, stands out with an effective property tax rate of 2.63%. This is significantly higher than the national median property tax rate of 1.02%. The median property tax rate in New Jersey is also 2.63%, which aligns with Kenvil's rate. This makes New Jersey one of the states with the highest property tax rates in the country. The national median property tax bill is $2,400, highlighting the potential financial impact on homeowners in Kenvil compared to the national average.
Understanding these rates can help property owners in Kenvil make informed decisions about property tax appeals and exemptions.
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 Kenvil Tax Rate
2.63%
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 Kenvil, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07847 | 2.43% | 2.63% | 2.63% | 2.63% | 2.63% |
Source: Ownwell
Property Tax Assessment Values Across Kenvil, Morris County, New Jersey
When examining property taxes in Kenvil, 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 March. 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 Kenvil. For example, the median home price in Kenvil is $269,300, with tax bills ranging significantly across the county. 07847 has the highest median home price at $269,300.
Property Tax Assessment Values Across Kenvil, Morris County, New Jersey
Source: Ownwell
$215,900
$831,650
$1,447,400
Median Kenvil Market Value
$269,300
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 Kenvil, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07847 | $203,160 | $233,700 | $269,300 | $320,850 | $368,750 |
Source: Ownwell
Property Tax Bills Across Kenvil, Morris County, New Jersey
In Kenvil, NJ, located in Morris County, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, which is influenced by factors such as location, size, and condition of the property. Homeowners in Kenvil face a median property tax bill of $7,008, significantly higher than the national median of $2,400. This places a substantial financial burden on homeowners, particularly when compared to the national median property tax rate of 1.02%.
Ownwell offers a practical solution for homeowners seeking to reduce their property tax bills. By leveraging expertise in property tax appeals and exemptions, Ownwell can identify opportunities for savings by ensuring that properties are fairly assessed. This service can lead to significant reductions in property tax obligations, providing relief for homeowners in Kenvil. By challenging inaccurate assessments, Ownwell helps ensure that homeowners only pay their fair share, ultimately contributing to more manageable property tax expenses.
Median Kenvil Tax Bill
$7,008
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 Kenvil, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07847 | $5,197 | $6,041 | $7,008 | $8,301 | $9,510 |
Source: Ownwell