Oak Ridge, Morris County, New Jersey Property Taxes
Median OAK RIDGE, NJ effective property tax rate: 2.79%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median OAK RIDGE, NJ home value: $319,650
Median annual OAK RIDGE, NJ tax bill: $8,756, $6,356 higher than the national median property tax bill of $2,400.
How are property taxes in Morris calculated?
Property taxes in OAK RIDGE, 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 OAK RIDGE’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in OAK RIDGE, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Oak Ridge, Morris County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.79%
Estimate Property Tax Bill
$8,918
$8,276
Ownwell’s OAK RIDGE Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in OAK RIDGE with just two data points.
By entering your property's estimated assessed value, our calculator applies OAK RIDGE’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.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Oak Ridge, Morris County, New Jersey
Local government entities in New Jersey determine property tax rates, and these can vary significantly across different areas. Each year, counties like Morris estimate their budget needs for providing essential services and divide this by the total assessed value of all taxable properties within their jurisdiction. This process results in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is essentially the annual procedure.
In Oak Ridge, within Morris County, the effective property tax rate stands at 2.79%. This rate is notably higher than the national median property tax rate of 1.02%. When comparing Oak Ridge to other cities in New Jersey, it's evident that Oak Ridge's property tax rate is among the highest in the state. This is reflective of the broader trend in New Jersey, where property tax rates are generally higher than the national average. Understanding these rates is crucial for property owners seeking 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 Oak Ridge Tax Rate
2.79%
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 Oak Ridge, Morris County, New Jersey
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
07438 | 2.58% | 2.78% | 2.79% | 2.79% | 2.79% |
Source: Ownwell
Property Tax Assessment Values Across Oak Ridge, Morris County, New Jersey
Property Tax Assessment Values Across Oak Ridge, Morris County, New Jersey
Source: Ownwell

$215,900
$831,650
$1,447,400
Median Oak Ridge Market Value
$319,650
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 Oak Ridge, Morris County, New Jersey
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
07438 | $196,590 | $255,700 | $319,650 | $400,525 | $481,800 |
Source: Ownwell
Property Tax Bills Across Oak Ridge, Morris County, New Jersey
Median Oak Ridge Tax Bill
$8,756
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 Oak Ridge, Morris County, New Jersey
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
07438 | $5,169 | $6,974 | $8,756 | $11,065 | $13,353 |
Source: Ownwell