Succasunna, Morris County, New Jersey Property Taxes
Median Succasunna, 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 Succasunna, NJ home value: $367,000
Median annual Succasunna, NJ tax bill: $9,492, $7,092 higher than the national median property tax bill of $2,400.
How are property taxes in Morris County calculated?
Property taxes in Succasunna, 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 Succasunna’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Succasunna, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Succasunna, Morris County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.71%
Estimate Property Tax Bill
$9,986
$9,267
Property Tax Rates Across Succasunna, Morris County, New Jersey
Local government entities set tax rates, which can vary widely within a state. This variation is due to each county estimating its required budget to provide essential services and dividing that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. In Succasunna, Morris County, New Jersey, the effective property tax rate is a reflection of this process. Although laws and votes play a role in setting these rates and budgets, this is the core of the annual process.
Comparing Succasunna’s effective property tax rate to other cities in New Jersey reveals that it stands at the higher end of the spectrum. With a median property tax rate of 2.63%, it surpasses the national median property tax rate of 1.02%. This means that residents in Succasunna pay significantly more in property taxes compared to the national average. Understanding these rates is crucial for homeowners as they navigate property ownership and consider appealing their property tax assessments.
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 Succasunna Tax Rate
2.71%
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
2.60%
Median Effective New Jersey Tax Rate
2.88%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Succasunna, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07876 | 2.71% | 2.71% | 2.71% | 2.71% | 2.71% |
Source: Ownwell
Property Tax Assessment Values Across Succasunna, Morris County, New Jersey
When examining property taxes in Succasunna, 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 Board 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 Succasunna.
For example, the median home price in Succasunna is $367,000, with tax bills ranging significantly across the county. The zip code 07876 has the highest median home price at $367,000.
Property Tax Assessment Values Across Succasunna, Morris County, New Jersey
Source: Ownwell
$222,300
$851,800
$1,481,300
Median Succasunna Market Value
$368,500
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 Succasunna, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07876 | $241,600 | $308,250 | $368,500 | $434,200 | $494,300 |
Source: Ownwell
Property Tax Bills Across Succasunna, Morris County, New Jersey
Median Succasunna Tax Bill
$9,969
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 Succasunna, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07876 | $6,538 | $8,336 | $9,969 | $11,722 | $13,349 |
Source: Ownwell