Summit, Union County, New Jersey Property Taxes
Property Taxes in Summit, New Jersey
Median Summit, New Jersey effective property tax rate: 4.33%, significantly higher than the national median of 1.02%, and higher than the New Jersey state median of 2.88%.
Median Summit, New Jersey home value: $357,800
Median annual Summit, New Jersey tax bill: $15,456, $13,056 higher than the national median property tax bill of $2,400.
How are property taxes in Union calculated?
Property taxes in Summit, New Jersey 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 Summit's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Summit, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Summit, Union County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
4.33%
Estimate Property Tax Bill
$15,493
$14,377
How Does the Summit Property Tax Calculator Work?
Use this Summit property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Summit's median effective tax rate of 4.33% — based on actual property records in Union County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment system uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Summit's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Summit: rates range from 4.33% in 07901 to 4.33% in 07901, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Summit.
About Summit Property Taxes
About Property Taxes in Summit, Union, New Jersey
Summit’s median effective property tax rate of 4.33% is higher than the New Jersey state median of 2.88% and higher than the national median of 1.02%. This rate reflects the Union County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Summit. Homeowners in the 07901 ZIP code carry a median effective rate of 4.33%, while those in the same ZIP also pay 4.33%. This means there is no spread across the city’s available ZIP data, but local district boundaries can still affect how your assessed value is taxed.
Summit homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the April 1, 2026 deadline each year.
If your estimated bill seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Summit, Union 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 Summit's effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S.
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 Summit Tax Rate
4.33%
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 Union County Tax Rate
6.67%
Median Effective New Jersey Tax Rate
2.88%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Summit, Union County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07901 | 4.33% | 4.33% | 4.33% | 4.33% | 4.33% |
Source: Ownwell
Property Tax Assessment Values Across Summit, Union County, New Jersey
When examining property taxes in Summit, New Jersey, 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 Union 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.
Assessment notices:
In Union County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of February.
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 Summit.
For example, the median home price in Summit is $357,800, with tax bills ranging significantly across the county. 07901 has the highest median home price at $357,800.
Property Tax Assessment Values Across Summit, Union County, New Jersey
Source: Ownwell
$22,050
$381,925
$741,800
Median Summit Market Value
$357,800
Median Union County Market Value
$177,800
Median New Jersey Market Value
$288,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Summit, Union County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07901 | $174,760 | $238,000 | $357,800 | $568,150 | $798,420 |
Source: Ownwell
Property Tax Bills Across Summit, Union County, New Jersey
Property tax bills in Summit are based on the assessed value of a home, which local tax authorities use to estimate what the property would be worth in the market. That assessment is then multiplied by the local tax rate to determine the bill, so both the home’s value and the rate set by local governments matter. For homeowners in Summit, this means taxes can rise when assessed values increase, even if the home is not sold.
The median home price in Summit is $357,800, and the median property tax bill is $15,456 in ZIP code 07901. That is far above the national median property tax bill of $2,400 and the national median property tax rate of 1.02%. Bills also vary widely across the city, with the 25th percentile at $10,230, the 75th percentile at $24,186, and the 90th percentile at $34,028. For many homeowners, that can make property taxes one of the largest ongoing housing costs.
Median Summit Tax Bill
$15,456
Median Union County Tax Bill
$10,725
Median New Jersey Tax Bill
$8,638
Median United States Tax Bill
$2,400
Property Tax Bills Across Summit, Union County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07901 | $7,356 | $10,230 | $15,456 | $24,186 | $34,028 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 1 |
Links | |
|---|---|
| Union Tax Assessor | |
| Website | taxrecords-nj.com |