South Orange, New Jersey Property Taxes
The median property tax rate in South Orange, NJ is 3.51%, significantly higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With a median home value of $548,400, the typical annual property tax bill in South Orange reaches $19,271, far exceeding the national median of $2,690. Property taxes in South Orange are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like those for primary residences and agricultural properties. Understanding South Orange'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 South Orange or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
South Orange, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.51%
Estimate Property Tax Bill
$19,249
Ownwell’s South Orange Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in South Orange with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Orange to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities, ensuring you are well-prepared for any financial obligations. If you’re interested in exploring trends on a neighborhood level, scroll down for more localized information. Your property’s assessed value is determined by Essex County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across South Orange, New Jersey
Property taxes in South Orange, New Jersey, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in South Orange is 3.51%, significantly higher than the U.S. national median of 0.99%. Local government entities within South Orange set these rates annually, and they can vary considerably across different neighborhoods. Each year, South Orange 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 South Orange's effective property tax rate to other areas in Essex County and the national median. For comparison, the zip code 07079 in South Orange has the highest median property tax rate of 3.51%, while the same zip code also represents the lowest median tax rate of 3.51%. Understanding how these figures compare with South Orange provides valuable insights into the varying tax landscape across Essex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average South Orange Tax Rate
3.51%
Average Essex County Tax Rate
3.51%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Orange, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07079 | 3.51% | 3.51% | 3.51% | 3.51% | 3.51% |
Source: Ownwell
Property Tax Assessment Values Across South Orange, New Jersey
In South Orange, 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 Essex 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 South Orange, 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. Being aware of these valuation processes in South Orange helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 07079 has the highest and lowest median tax bill, both at $19,271.
Property Tax Assessment Values Across South Orange, New Jersey
Source: Ownwell
$16,100
$687,250
$1,358,400
Average South Orange Assessed Value
$548,400
Average Essex County Assessed Value
$335,900
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across South Orange, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07079 | $347,200 | $428,400 | $548,400 | $713,000 | $850,800 |
Source: Ownwell
Property Tax Bills Across South Orange, New Jersey
In South Orange, NJ, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, which is influenced by factors such as the property's location, size, and condition. South Orange homeowners face some of the highest property tax bills in the nation, with the median tax bill reaching $19,271, significantly higher than the national median property tax rate of 0.99%. Factors such as local government budgets, school funding, and public services play a crucial role in determining the tax rate. For instance, a median home price of $548,400 in South Orange can result in varying tax bills, with the 25th percentile at $15,094 and the 75th percentile at $25,032. This can have a substantial impact on homeowners, influencing their overall cost of living and potentially affecting decisions related to home ownership and property investments.
Average South Orange Tax Bill
$19,271
Average Essex County Tax Bill
$11,297
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across South Orange, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07079 | $12,236 | $15,094 | $19,271 | $25,032 | $29,845 |
Source: Ownwell