Rockleigh, New Jersey Property Taxes
The median property tax rate in Rockleigh, NJ is 0.74%, which is notably lower than both the national median of 0.99% and the New Jersey state median of 2.82%. With the median home value in Rockleigh at $1,506,200, the typical annual property tax bill reaches $11,146, significantly higher than the national median of $2,690. Property taxes in Rockleigh are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Rockleigh's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Rockleigh or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rockleigh, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$11,146
Ownwell’s Rockleigh Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers an easy way to estimate their annual property taxes in Rockleigh. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Rockleigh to provide an estimated property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property's assessed value is determined by Bergen County for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Rockleigh, New Jersey
Property taxes in Rockleigh, New Jersey, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rockleigh is 1.97%, significantly higher than both the New Jersey state median of 2.21% and the U.S. national median of 0.99%. Local government entities within Rockleigh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rockleigh estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Rockleigh's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 07647 zip code has the highest median property tax rate of 1.97%, while the same zip code has the lowest median tax rate of 1.97%. Understanding how these cities compare with Rockleigh provides valuable insights into the varying tax landscape across Bergen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rockleigh Tax Rate
0.74%
Average Bergen County Tax Rate
2.73%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rockleigh, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07647 | 0.74% | 0.74% | 0.74% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Rockleigh, New Jersey
In Rockleigh, New Jersey, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Bergen County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Rockleigh, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Rockleigh's median home price is $1,506,200, with tax bills ranging from $8,140 at the 25th percentile to $19,462 at the 90th percentile. The zip code 07647 has both the highest and lowest median tax bill, valued at $11,146. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Rockleigh, New Jersey
Source: Ownwell
$172,100
$10,136,050
$20,100,000
Average Rockleigh Assessed Value
$1,506,200
Average Bergen County Assessed Value
$421,800
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rockleigh, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07647 | $672,140 | $1,100,000 | $1,506,200 | $2,143,900 | $2,630,000 |
Source: Ownwell
Property Tax Bills Across Rockleigh, New Jersey
Property tax bills in Rockleigh, Bergen County, NJ, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local tax assessor and is meant to represent the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. In Rockleigh, the median home price is $1,506,200, resulting in significant property tax bills. For instance, homeowners in the 25th percentile pay around $8,140 annually, while those in the 75th percentile face bills of approximately $15,865. At the 90th percentile, the tax bill can reach up to $19,462. The median property tax bill in this area is $11,146, which is substantially higher than the national median property tax rate of 0.99%. These high property taxes can significantly impact homeowners, affecting their monthly budgets and overall affordability. Understanding how these taxes are calculated and planning accordingly is crucial for homeowners in Rockleigh.
Average Rockleigh Tax Bill
$11,146
Average Bergen County Tax Bill
$11,253
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Rockleigh, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07647 | $5,160 | $8,140 | $11,146 | $15,865 | $19,462 |
Source: Ownwell