Mount Tabor, Morris County, New Jersey Property Taxes

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

Median Mount Tabor, NJ effective property tax rate: 3.17%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Mount Tabor, NJ home value: $244,100
Median annual Mount Tabor, NJ tax bill: $7,558, $5,158 higher than the national median property tax bill of $2,400.

How are property taxes in Morris County calculated?

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

Last Updated March 1, 2025

Mount Tabor, Morris County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.41%

Estimate Property Tax Bill

$8,447

$7,838

Ownwell’s Mount Tabor Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mount Tabor with just two data points.

By entering your property's estimated assessed value, our calculator applies Mount Tabor’s 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 County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Mount Tabor, Morris County, New Jersey

Local government entities set tax rates, which can vary widely within a state. Annually, 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 Mount Tabor’s effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S. The median property tax rate in Mount Tabor, located in Morris County, stands at 3.17%, significantly higher than the national median of 1.02%. This places Mount Tabor among the areas with the highest property tax rates in the nation. Despite the high rates, the funds collected are essential for supporting local services such as schools, infrastructure, and emergency services. Understanding these rates can help property owners make informed decisions about appealing their property tax assessments and seeking exemptions where applicable.

Property Tax Rates Across Mount Tabor, Morris County, New Jersey

Source: Ownwell

1.16%

2.30%

3.45%

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 Mount Tabor Tax Rate

3.41%

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 Mount Tabor, Morris County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07878	3.41%	3.41%	3.41%	3.41%	3.41%

Source: Ownwell

Property Tax Assessment Values Across Mount Tabor, Morris County, New Jersey

When examining property taxes in Mount Tabor, 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 Mount Tabor.

For example, the median home price in Mount Tabor is $244,100, with tax bills ranging significantly across the county. Zip code 07878 has the highest median home price at $244,100.

Property Tax Assessment Values Across Mount Tabor, Morris County, New Jersey

Source: Ownwell

$222,300

$851,800

$1,481,300

Median Mount Tabor Market Value

$247,700

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 Mount Tabor, Morris County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07878	$178,100	$210,000	$247,700	$290,700	$346,000

Source: Ownwell

Property Tax Bills Across Mount Tabor, Morris County, New Jersey

In Mount Tabor, Morris County, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Factors such as property size, location, and any improvements made to the home can influence the assessed value. In Morris County, the median tax bill is significantly higher than the national median, highlighting the financial burden on homeowners. For instance, the tax bill at the 25th percentile is $6,400, which is already above the national median property tax bill of $2,400. This high tax burden can be a significant financial strain for homeowners. However, Ownwell offers a solution by providing property tax appeal and exemption services. By leveraging expertise in local tax laws and assessment practices, Ownwell can help homeowners potentially reduce their tax bills, ensuring they pay only their fair share and alleviating some of the financial pressure associated with high property taxes.

Property Tax Bills Across Mount Tabor, Morris County, New Jersey

Source: Ownwell

$6,529

$15,270

$24,010

Median Mount Tabor Tax Bill

$8,377

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 Mount Tabor, Morris County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07878	$6,070	$7,147	$8,377	$9,805	$11,792

Source: Ownwell