Millburn, Essex County, New Jersey Property Taxes
Property Taxes in Millburn, New Jersey
Median Millburn, New Jersey effective property tax rate: 1.96%, significantly lower than the national median of 1.02%, and lower than the New Jersey state median of 2.88%.
Median Millburn, New Jersey home value: $753,850
Median annual Millburn, New Jersey tax bill: $14,787, higher than the national median property tax bill of $2,400.
How are property taxes in Essex calculated?
Property taxes in Millburn, 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 Millburn's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Millburn, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Millburn, Essex County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.96%
Estimate Property Tax Bill
$14,775
$13,711
How Does the Millburn Property Tax Calculator Work?
Use this Millburn property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Millburn's median effective tax rate of 1.96% — based on actual property records in Essex County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Millburn'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 Millburn: rates range from 1.96% in 07041 to 1.96% in 07041, 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 Millburn.
About Millburn Property Taxes
About Property Taxes in Millburn, Essex, New Jersey
Millburn's median effective property tax rate of 1.96% is lower than the New Jersey state median of 2.88% and higher than the national median of 1.02%. This rate reflects the Essex 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 Millburn. Homeowners in the 07041 ZIP code carry a median effective rate of 1.96%, while those in the lowest ZIP also pay 1.96%. This reflects how school district boundaries and local assessment districts are drawn across Essex County. Understanding which part of Millburn you live in can make a meaningful difference to your annual tax bill.
Millburn homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the April 1, 2026 deadline each year.
If your estimated bill above 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 Millburn, Essex 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 Millburn'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 Millburn Tax Rate
1.96%
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 Essex County Tax Rate
3.27%
Median Effective New Jersey Tax Rate
2.88%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Millburn, Essex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07041 | 1.96% | 1.96% | 1.96% | 1.96% | 1.96% |
Source: Ownwell
Property Tax Assessment Values Across Millburn, Essex County, New Jersey
When examining property taxes in Millburn, 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 Essex County 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.
Assessment notices:
In Essex County, assessment notices are sent in February 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 Millburn.
For example, the median home price in Millburn is $753,850, with tax bills ranging significantly across the county. 07041 has the highest median home price at $753,850.
Property Tax Assessment Values Across Millburn, Essex County, New Jersey
Source: Ownwell
$145,150
$750,800
$1,356,450
Median Millburn Market Value
$753,850
Median Essex County Market Value
$366,500
Median New Jersey Market Value
$288,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Millburn, Essex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07041 | $509,580 | $633,800 | $753,850 | $853,675 | $977,320 |
Source: Ownwell
Property Tax Bills Across Millburn, Essex County, New Jersey
Property tax bills in Millburn are based on the assessed value of a home, which is then multiplied by the local tax rate set by the city, county, and other taxing authorities. For homeowners in Millburn, the median home price is $753,850, and the median property tax bill is $14,787.
Several factors influence the final bill, including the home’s assessed value, local tax rates, and any changes in municipal or county budgets. Because property taxes are tied to assessed value rather than market price alone, a higher assessment can lead to a larger bill even if a home has not recently sold.
This can have a major impact on homeowners, since Millburn tax bills are well above the national median property tax bill of $2,400. Bills in the area also vary widely, with the 25th percentile at $12,485 and the 75th percentile at $16,718. For many homeowners, understanding how the bill is calculated is the first step toward managing rising property tax costs.
Median Millburn Tax Bill
$14,787
Median Essex County Tax Bill
$11,737
Median New Jersey Tax Bill
$8,638
Median United States Tax Bill
$2,400
Property Tax Bills Across Millburn, Essex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07041 | $10,432 | $12,485 | $14,787 | $16,718 | $19,106 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 1 |
Links | |
|---|---|
| Essex Tax Assessor | |
| Website | www.taxdatahub.com |