Basking Ridge, Morris County, New Jersey Property Taxes
Property Taxes in Basking Ridge, New Jersey
Median Basking Ridge, New Jersey effective property tax rate: 1.16%, higher than the national median of 1.02%, and lower than the New Jersey state median of 2.88%.
Median Basking Ridge, New Jersey home value: $1,481,300
Median annual Basking Ridge, New Jersey tax bill: $17,416, $15,016 higher than the national median property tax bill of $2,400.
How are property taxes in Morris calculated?
Property taxes in Basking Ridge, 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 Basking Ridge's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Basking Ridge, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Basking Ridge, Morris County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.16%
Estimate Property Tax Bill
$17,183
$15,945
How Does the Basking Ridge Property Tax Calculator Work?
Use this Basking Ridge property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Basking Ridge's median effective tax rate of 1.16% — based on actual property records in Morris 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 Basking Ridge'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 Basking Ridge: rates range from 1.16% in 07920 to 1.16% in 07920, 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 Basking Ridge.
About Basking Ridge Property Taxes
About Property Taxes in Basking Ridge, Morris, New Jersey
Basking Ridge's median effective property tax rate of 1.16% is lower than the New Jersey state median of 2.88% and higher than the national median of 1.02%. This rate reflects the Morris 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 Basking Ridge. Homeowners in the 07920 ZIP code carry a median effective rate of 1.16%, while those in the same ZIP code pay 1.16%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Morris County. Understanding which part of Basking Ridge you live in can make a meaningful difference to your annual tax bill.
Basking Ridge 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 Basking Ridge, Morris 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 Basking Ridge'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 Basking Ridge Tax Rate
1.16%
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 Morris County Tax Rate
2.60%
Median Effective New Jersey Tax Rate
2.88%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Basking Ridge, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07920 | 1.16% | 1.16% | 1.16% | 1.16% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Basking Ridge, Morris County, New Jersey
When examining property taxes in Basking Ridge, 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 Morris 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 Morris 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. For Basking Ridge, the median home price is $1,481,300, and the median tax bill is $17,416, well above the national median property tax bill of $2,400. The highest median home price is in 07920 at $1,481,300.
Property Tax Assessment Values Across Basking Ridge, Morris County, New Jersey
Source: Ownwell
$222,300
$851,800
$1,481,300
Median Basking Ridge Market Value
$1,481,300
Median Morris County Market Value
$411,600
Median New Jersey Market Value
$288,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Basking Ridge, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07920 | $854,000 | $1,172,850 | $1,481,300 | $1,918,950 | $2,249,640 |
Source: Ownwell
Property Tax Bills Across Basking Ridge, Morris County, New Jersey
Property tax bills in Basking Ridge are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property. That means the tax bill depends on how much the home is worth, along with the tax rates set by local taxing authorities in Morris County.
With a median home price of $1,481,300, homeowners in Basking Ridge often face larger tax bills than the national median property tax bill of $2,400. The 25th percentile tax bill is $13,810, while the 75th percentile is $22,810 and the 90th percentile reaches $26,573. The median tax bill in ZIP code 07920 is $17,416.
For homeowners, this can make property taxes one of the biggest ongoing housing costs. Higher assessed values can lead to higher bills, even if the home has not changed much physically, which is why understanding how the bill is determined matters.
Property Tax Bills Across Basking Ridge, Morris County, New Jersey
Source: Ownwell
$6,529
$15,270
$24,010
Median Basking Ridge Tax Bill
$17,416
Median Morris County Tax Bill
$10,340
Median New Jersey Tax Bill
$8,638
Median United States Tax Bill
$2,400
Property Tax Bills Across Basking Ridge, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07920 | $10,162 | $13,810 | $17,416 | $22,810 | $26,573 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 1 |
Links | |
|---|---|
| Morris Tax Assessor | |
| Website | mcweb1.co.morris.nj.us |