Taxes & Insurance in Millburn
Millburn carries a real, comparatively favorable 1.96% effective property-tax rate relative to the broader Essex County average, layered with New Jersey's statewide graduated income tax, uniform sales tax, and statewide-disclosed homeowners-insurance cost trend.
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Learn moreA comparatively favorable effective property-tax rate for Essex County
Millburn's median effective property-tax rate is 1.96% (Ownwell, ZIP 07041) -- below the broader Essex County average of approximately 3.11%, though still genuinely high by national standards given New Jersey's own nation-leading statewide profile. A separate, distinct figure -- Millburn's 2025 municipal (general) tax rate of 2.019% -- is a different measure from the median effective rate, not reconciled to one number given differing methodology.
Property-tax rates are not uniform within Millburn
Property-tax rates vary within Millburn Township by specific school-district and special-assessment-district levies. Short Hills-area properties, given their genuinely higher assessed values, typically carry higher absolute dollar tax bills even where the underlying rate is comparable to downtown Millburn.
New Jersey's graduated state income tax
New Jersey's real, genuinely graduated 7-bracket income tax runs from 1.4% up to a well-known 10.75% top rate above $1,000,000 (the 'millionaire's tax,' made permanent in 2020) -- a statewide structure reaching meaningfully into Millburn's and Short Hills' own genuinely high-income resident base.
Homeowners insurance: a real, statewide-disclosed cost trend
No Millburn-specific homeowners-insurance premium figure distinct from New Jersey's own statewide range was identified this pass. This record uses the same real, disclosed statewide spread (roughly $1,401-$2,030/year) and 33% five-year increase documented in this project's New Jersey state hub record, scaled upward in practice by Millburn's -- and especially Short Hills' -- genuinely high average home values.
Key takeaways
- Millburn's 1.96% effective property-tax rate runs below the broader Essex County average of approximately 3.11%.
- Short Hills-area properties typically carry higher absolute dollar tax bills given their higher assessed values, even at a comparable rate.
- New Jersey's graduated income tax (1.4%-10.75%) and uniform 6.625% sales tax apply in Millburn as statewide.
- No Millburn-specific insurance premium was identified; the statewide $1,401-$2,030/year range and 33% five-year increase apply.
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