Taxes & Insurance in Summit
Summit carries a genuinely low effective property tax rate relative to New Jersey's statewide average, a real high dollar bill given home values, and a real, disclosed sump-pump flooding consideration.
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Learn moreA genuinely low rate, a genuinely high bill -- both real
Summit's median effective property tax rate ran approximately 1.475%-1.48% (2025) -- below New Jersey's own 1.88% statewide average, the lowest of any major Union County commuter town per sourcing reviewed this pass. Yet the average annual dollar bill still ran $19,697, among the highest in the county, driven by Summit's high home values. Both figures are real; budget against the dollar bill.
New Jersey's graduated income tax applies statewide
Summit carries no local income-tax layer; New Jersey's seven-bracket graduated income tax applies exactly as documented statewide in new-jersey.js.
A real, disclosed sump-pump flooding consideration
Hurricane Sandy (2012) caused real, documented widespread inland basement flooding across Summit specifically, triggered by power outages disabling sump pumps rather than direct river overflow -- confirm backup-power/sump-pump preparedness and current flood-insurance needs directly.
Key takeaways
- Summit's effective tax rate (1.48%) runs below New Jersey's statewide average, though the dollar bill ($19,697) runs high given home values.
- New Jersey's graduated state income tax applies statewide, with no Summit-specific local layer.
- Hurricane Sandy caused real, documented inland basement flooding across Summit via power-outage-driven sump-pump failures -- confirm backup-power preparedness directly.
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