Morris Plains, Morris County, New Jersey Property Taxes

Name: Property Tax Bills Across Morris Plains, Morris County, New Jersey
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Morris Plains, NJ effective property tax rate: 2.97%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median Morris Plains, NJ home value: $374,900
Median annual Morris Plains, NJ tax bill: $9,832, $7,432 higher than the national median property tax bill of $2,400.

How are property taxes in Morris calculated?

Property taxes in Morris Plains, 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 Morris Plains’ property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Morris Plains, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Morris Plains, Morris County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.97%

Estimate Property Tax Bill

$11,135

$10,333

Ownwell’s Morris Plains Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Morris Plains with just two data points. By entering your property's estimated assessed value, our calculator applies Morris Plains’ median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Morris. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Morris Plains, 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. Below, you can compare Morris Plains’s effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S. Morris Plains, located in Morris County, has an effective property tax rate of 2.97%, significantly higher than the national median property tax rate of 1.02%. This high rate reflects the state's overall trend, as New Jersey is known for having some of the highest property tax rates in the country. The median property tax bill in Morris Plains is notably above the national median of $2,400. Understanding these rates is crucial for homeowners looking to manage their property taxes effectively.

Property Tax Rates Across Morris Plains, Morris County, New Jersey

Source: Ownwell

1.11%

2.23%

3.36%

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 Plains Tax Rate

2.97%

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 Morris Plains, Morris County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07950	1.91%	2.45%	2.97%	3.17%	3.17%

Source: Ownwell

Property Tax Assessment Values Across Morris Plains, Morris County, New Jersey

When examining property taxes in Morris Plains, 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 Morris Plains.

For example, the median home price in Morris Plains is $374,900, with tax bills ranging significantly across the county. Zip code 07950 has the highest median home price at $374,900.

Property Tax Assessment Values Across Morris Plains, Morris County, New Jersey

Source: Ownwell

$215,900

$831,650

$1,447,400

Median Morris Plains Market Value

$374,900

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 Morris Plains, Morris County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07950	$127,900	$288,200	$374,900	$471,600	$560,400

Source: Ownwell

Property Tax Bills Across Morris Plains, Morris County, New Jersey

In Morris Plains, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The property tax rate in Morris County significantly exceeds the national median of 1.02%, contributing to higher tax bills. For instance, the median tax bill in Morris Plains is $9,832, markedly above the national median of $2,400. Factors such as the home's location, size, and improvements can influence the assessed value, impacting the final tax bill. This can place a considerable financial burden on homeowners, especially when property values rise.

Ownwell can assist homeowners by providing expert property tax appeal services. By analyzing your property's assessment and comparing it with similar properties in the area, Ownwell identifies potential over-assessments. Successfully appealing your property taxes can lead to substantial savings, reducing your financial burden. With Ownwell's expertise, homeowners in Morris Plains can ensure they are not overpaying on their property taxes, potentially saving thousands of dollars annually.

Property Tax Bills Across Morris Plains, Morris County, New Jersey

Source: Ownwell

$5,771

$14,730

$23,689

Median Morris Plains Tax Bill

$9,832

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 Morris Plains, Morris County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07950	$4,333	$7,583	$9,832	$12,323	$15,372

Source: Ownwell