Lafayette, Sussex County, New Jersey Property Taxes
Median Lafayette, NJ effective property tax rate: 2.84%, significantly higher than the national median of 1.02%, but slightly higher than the New Jersey state median of 2.82%.
Median Lafayette, NJ home value: $280,500
Median annual Lafayette, NJ tax bill: $8,291, $5,891 higher than the national median property tax bill of $2,400.
How are property taxes in Sussex calculated?
Property taxes in Lafayette, 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 Lafayette’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lafayette, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lafayette, Sussex County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.85%
Estimate Property Tax Bill
$7,393
$6,860
Property Tax Rates Across Lafayette, Sussex County, New Jersey
Local government entities set tax rates, which can vary widely within a state. This variation happens because each county annually estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. Though votes and laws play a role in setting these rates and budgets, this is essentially the annual process.
Comparing Lafayette’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 2.84%, Lafayette in Sussex County surpasses both the state and national averages. The national median property tax rate is 1.02%, which means Lafayette's rate is significantly higher, indicating a more substantial financial commitment for property owners. This high rate reflects the county's budgetary needs and the value of services provided to residents. Understanding these rates can help property owners make informed decisions about tax appeals and exemptions, potentially leading to significant savings.
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 Lafayette Tax Rate
2.85%
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 Lafayette, Sussex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07848 | 2.85% | 2.85% | 2.85% | 4.06% | 4.06% |
Source: Ownwell
Property Tax Assessment Values Across Lafayette, Sussex County, New Jersey
When examining property taxes in Lafayette, 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 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 Sussex 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 Lafayette.
For example, the median home price in Lafayette is $280,500, with tax bills ranging significantly across the county. Zip code 07848 has the highest median home price at $280,500.
Property Tax Assessment Values Across Lafayette, Sussex County, New Jersey
Source: Ownwell
$171,600
$294,725
$417,850
Median Lafayette Market Value
$259,400
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 Lafayette, Sussex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07848 | $106,500 | $151,600 | $259,400 | $362,250 | $430,900 |
Source: Ownwell
Property Tax Bills Across Lafayette, Sussex County, New Jersey
Median Lafayette Tax Bill
$7,694
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 Lafayette, Sussex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07848 | $3,587 | $5,082 | $7,694 | $11,394 | $14,944 |
Source: Ownwell