Mine Hill, Morris County, New Jersey Property Taxes
Median Mine Hill, NJ effective property tax rate: 2.81%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Mine Hill, NJ home value: $267,550
Median annual Mine Hill, NJ tax bill: $7,474, $5,074 higher than the national median property tax bill of $2,400.
How are property taxes in Morris calculated?
Property taxes in Mine Hill, 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 Mine Hill’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Mine Hill, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Mine Hill, Morris County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.81%
Estimate Property Tax Bill
$7,518
$6,977
Property Tax Rates Across Mine Hill, Morris County, New Jersey
Local government entities are responsible for setting tax rates, which can vary significantly within a state. Each year, counties estimate their required budget to provide services and divide that by the total value of all taxable property in their jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is essentially the annual process.
In Mine Hill, located in Morris County, the effective property tax rate stands out. When compared to other cities in New Jersey, Mine Hill's rate is notably higher than the national median property tax rate of 1.02%. New Jersey itself has one of the highest median property tax rates in the nation, and Mine Hill reflects this trend.
Understanding these rates is crucial for homeowners seeking to appeal their property taxes or explore exemptions. By comparing Mine Hill's effective property tax rate to other cities in New Jersey and the national median, residents can gain a clearer perspective on their property tax obligations and make informed decisions.
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 Mine Hill Tax Rate
2.81%
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 Mine Hill, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07803 | 2.81% | 2.81% | 2.81% | 2.81% | 2.81% |
Source: Ownwell
Property Tax Assessment Values Across Mine Hill, Morris County, New Jersey
When examining property taxes in Mine Hill, 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 Mine Hill.
For example, the median home price in Mine Hill is $267,550, with tax bills ranging significantly across the county. 07803 has the highest median home price at $267,550.
Property Tax Assessment Values Across Mine Hill, Morris County, New Jersey
Source: Ownwell
$215,900
$831,650
$1,447,400
Median Mine Hill Market Value
$267,550
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 Mine Hill, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07803 | $226,350 | $243,000 | $267,550 | $302,775 | $358,150 |
Source: Ownwell
Property Tax Bills Across Mine Hill, Morris County, New Jersey
Median Mine Hill Tax Bill
$7,474
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 Mine Hill, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07803 | $6,304 | $6,793 | $7,474 | $8,479 | $10,043 |
Source: Ownwell