Stanhope, Warren County, New Jersey Property Taxes
Median Stanhope, NJ effective property tax rate: 3.20%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Stanhope, NJ home value: $161,600
Median annual Stanhope, NJ tax bill: $5,199, $2,799 higher than the national median property tax bill of $2,400.
How are property taxes in Warren calculated?
Property taxes in Stanhope, 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 Stanhope’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Stanhope, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Stanhope, Warren County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.29%
Estimate Property Tax Bill
$5,297
$4,915
Property Tax Rates Across Stanhope, Warren County, New Jersey
Local government entities are responsible for setting property tax rates, which can vary significantly across different areas within a state. This variation arises because each county annually estimates the budget necessary to provide essential services and divides this by the total value of all taxable properties within its jurisdiction. This calculation determines the property tax rate. Although the process involves votes and legislation to set tax rates and budgets, this is the core of how it operates each year.
In Stanhope, located in Warren County, New Jersey, the effective property tax rate is notably higher than the national median of 1.02%. This rate stands out even when compared to other cities within New Jersey. The median property tax rate in Stanhope is 3.20%, which is significantly above the national median property tax bill of $2400. Understanding these rates can help property owners in Stanhope anticipate their tax responsibilities and explore potential avenues for appeal or exemption. By staying informed, property owners can better navigate the complexities of property taxation and potentially reduce their tax burden.
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 Stanhope Tax Rate
3.29%
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 Warren County Tax Rate
3.55%
Median Effective New Jersey Tax Rate
2.88%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Stanhope, Warren County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07874 | 3.14% | 3.24% | 3.29% | 3.31% | 3.32% |
Source: Ownwell
Property Tax Assessment Values Across Stanhope, Warren County, New Jersey
When examining property taxes in Stanhope, 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 Warren 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 Warren 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 Stanhope.
For example, the median home price in Stanhope is $161,600, with tax bills ranging significantly across the county. 07874 has the highest median home price at $161,600.
Property Tax Assessment Values Across Stanhope, Warren County, New Jersey
Source: Ownwell
$144,350
$238,125
$331,900
Median Stanhope Market Value
$161,000
Median Warren County Market Value
$206,900
Median New Jersey Market Value
$288,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Stanhope, Warren County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07874 | $125,990 | $142,500 | $161,000 | $184,850 | $643,230 |
Source: Ownwell
Property Tax Bills Across Stanhope, Warren County, New Jersey
Median Stanhope Tax Bill
$5,295
Median Warren County Tax Bill
$7,155
Median New Jersey Tax Bill
$8,638
Median United States Tax Bill
$2,400
Property Tax Bills Across Stanhope, Warren County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07874 | $4,211 | $4,723 | $5,295 | $6,034 | $20,225 |
Source: Ownwell