Rockaway Borough, Morris County, New Jersey Property Taxes
Property Taxes in Rockaway Borough, New Jersey
Median Rockaway Borough, New Jersey effective property tax rate: 3.25%, significantly higher than the national median of 1.02%, and higher than the New Jersey state median of 2.88%.
Median Rockaway Borough, New Jersey home value: $278,800
Median annual Rockaway Borough, New Jersey tax bill: $9,061, higher than the national median property tax bill of $2,400.
How are property taxes in Morris County calculated?
Property taxes in Rockaway Borough, 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 Rockaway Borough's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Rockaway Borough, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Rockaway Borough, Morris County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.25%
Estimate Property Tax Bill
$9,061
$8,408
How Does the Rockaway Borough Property Tax Calculator Work?
Use this Rockaway Borough property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Rockaway Borough's median effective tax rate of 3.25% — based on actual property records in Morris County — to generate your estimate.
Enter your property's estimated assessed value — the figure used to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Rockaway Borough'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 Rockaway Borough: rates range from 3.25% in 07866 to 3.25% in 07866, 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 Rockaway Borough.
About Rockaway Borough Property Taxes
About Property Taxes in Rockaway Borough, Morris, New Jersey
Rockaway Borough’s median effective property tax rate of 3.25% is higher 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 borough.
Property tax rates are not uniform across Rockaway Borough. Homeowners in the 07866 ZIP code carry a median effective rate of 3.25%, while those in the same ZIP code pay 3.25%. This spread — 0 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Morris County. Understanding which part of Rockaway Borough you live in can make a meaningful difference to your annual tax bill.
Rockaway Borough 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 Rockaway Borough, 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 Rockaway Borough'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 Rockaway Borough Tax Rate
3.25%
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 Rockaway Borough, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07866 | 3.25% | 3.25% | 3.25% | 3.25% | 3.25% |
Source: Ownwell
Property Tax Assessment Values Across Rockaway Borough, Morris County, New Jersey
When examining property taxes in Rockaway Borough, 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 tax 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 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. For example, the median home price in Rockaway Borough is $278,800, with tax bills ranging significantly across the county. Zip code 07866 has the highest median home price at $278,800.
Property Tax Assessment Values Across Rockaway Borough, Morris County, New Jersey
Source: Ownwell
$222,300
$851,800
$1,481,300
Median Rockaway Borough Market Value
$278,800
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 Rockaway Borough, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07866 | $249,200 | $255,900 | $278,800 | $300,600 | $325,880 |
Source: Ownwell
Property Tax Bills Across Rockaway Borough, Morris County, New Jersey
Property tax bills in Rockaway Borough are based on the assessed value of a home and the local tax rate set by taxing authorities. For homeowners, the bill is calculated by applying that rate to the property’s assessed market value, which means two homes with similar market values can still have different tax bills depending on exemptions, local budgets, and other taxing districts.
In Rockaway Borough, the median home price is $278,800, and property tax bills are high compared with the national median property tax bill of $2,400. The tax bill typically reflects school, municipal, and county levies, so changes in any of these can affect what a homeowner owes.
For many homeowners, this means property taxes can be a major part of housing costs. With bills ranging from $8,288 at the 25th percentile to $9,770 at the 75th percentile, even small changes in assessed value can have a noticeable impact on annual expenses.
Property Tax Bills Across Rockaway Borough, Morris County, New Jersey
Source: Ownwell
$6,529
$15,270
$24,010
Median Rockaway Borough Tax Bill
$9,061
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 Rockaway Borough, Morris County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07866 | $8,099 | $8,288 | $9,061 | $9,770 | $10,591 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 1 |
Links | |
|---|---|
| Morris Tax Assessor | |
| Website | mcweb1.co.morris.nj.us |