Glenwood, Sussex County, New Jersey Property Taxes
Median GLENWOOD, NJ effective property tax rate: 2.82%, significantly higher than the national median of 1.02%, but equal to the New Jersey state median of 2.82%.
Median GLENWOOD, NJ home value: $290,150
Median annual GLENWOOD, NJ tax bill: $8,179, $5,779 higher than the national median property tax bill of $2,400.
How are property taxes in Sussex calculated?
Property taxes in GLENWOOD, 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 GLENWOOD’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in GLENWOOD, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Glenwood, Sussex County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.45%
Estimate Property Tax Bill
$8,112
$7,528
Property Tax Rates Across Glenwood, Sussex County, New Jersey
As noted earlier, local government entities set tax rates, which can vary widely within a state. Why? Because 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 Glenwood’s effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S.
In Glenwood, located in Sussex County, property owners face a median tax rate that stands significantly above the national median of 1.02%. This higher rate reflects the broader tax landscape of New Jersey, where property taxes are among the highest in the nation. Understanding these rates is crucial for homeowners seeking to manage their property tax liabilities effectively. By appealing property tax assessments, residents of Glenwood can potentially lower their property tax bills, providing much-needed financial relief.
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 Glenwood Tax Rate
2.45%
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 Sussex County Tax Rate
2.89%
Median Effective New Jersey Tax Rate
2.88%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Glenwood, Sussex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07418 | 2.31% | 2.43% | 2.45% | 2.50% | 2.54% |
Source: Ownwell
Property Tax Assessment Values Across Glenwood, Sussex County, New Jersey
When examining property taxes in Glenwood, 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 Sussex County Tax Assessor 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 Sussex County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Glenwood.
For example, the median home price in Glenwood is $290,150, with tax bills ranging significantly across the county. 07418 has the highest median home price at $290,150.
Property Tax Assessment Values Across Glenwood, Sussex County, New Jersey
Source: Ownwell
$171,600
$294,725
$417,850
Median Glenwood Market Value
$331,100
Median Sussex County Market Value
$254,000
Median New Jersey Market Value
$288,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Glenwood, Sussex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07418 | $258,220 | $297,700 | $331,100 | $410,000 | $487,340 |
Source: Ownwell
Property Tax Bills Across Glenwood, Sussex County, New Jersey
Median Glenwood Tax Bill
$8,082
Median Sussex County Tax Bill
$7,164
Median New Jersey Tax Bill
$8,638
Median United States Tax Bill
$2,400
Property Tax Bills Across Glenwood, Sussex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07418 | $6,184 | $7,172 | $8,082 | $9,877 | $12,168 |
Source: Ownwell