Guttenberg, New Jersey Property Taxes
The median property tax rate in Guttenberg, NJ is 3.88%, significantly higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With the median home value in Guttenberg at $216,900, the typical annual property tax bill reaches $8,409, far exceeding the national median of $2,690. Property taxes in Guttenberg 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 Guttenberg's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Guttenberg 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
Guttenberg, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.88%
Estimate Property Tax Bill
$8,416
Ownwell’s Guttenberg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Guttenberg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Guttenberg to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Guttenberg, New Jersey
Property taxes in Guttenberg, New Jersey, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Guttenberg is 3.88%, significantly higher than the U.S. national median of 0.99%. Local government entities within Guttenberg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Guttenberg 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 Guttenberg's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 07093 zip code has the highest median property tax rate of 3.88%, while the same 07093 zip code also has the lowest median tax rate of 3.88%. Understanding how these cities compare with Guttenberg provides valuable insights into the varying tax landscape across Hudson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Guttenberg Tax Rate
3.88%
Average Hudson County Tax Rate
2.12%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Guttenberg, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07093 | 3.88% | 3.88% | 3.88% | 3.88% | 3.88% |
Source: Ownwell
Property Tax Assessment Values Across Guttenberg, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Guttenberg, NJ. 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 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 Guttenberg, 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. The median home price in Guttenberg is $216,900, with tax bills ranging from $5,143 at the 25th percentile to $16,215 at the 90th percentile. 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 Guttenberg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Guttenberg Assessed Value
$216,900
Average Hudson County Assessed Value
$357,200
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Guttenberg, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07093 | $87,348 | $133,675 | $216,900 | $287,150 | $418,220 |
Source: Ownwell
Property Tax Bills Across Guttenberg, New Jersey
In Guttenberg, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the Hudson County tax assessor and is meant to reflect the market value of the property. This value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Guttenberg, the median home price is $216,900. Depending on the assessed value and specific circumstances, property tax bills can vary significantly. For instance, the 25th percentile of tax bills is around $5,143, while the 75th percentile reaches $11,135, and the 90th percentile can be as high as $16,215. Interestingly, the highest and lowest median tax bills in the area both stand at $8,409, indicating a level of consistency within the zip code 07093. Compared to the national median property tax rate of 0.99%, Guttenberg's rates can be quite impactful on homeowners, influencing decisions on property purchases and overall affordability.
Average Guttenberg Tax Bill
$8,409
Average Hudson County Tax Bill
$8,581
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Guttenberg, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07093 | $3,384 | $5,143 | $8,409 | $11,135 | $16,215 |
Source: Ownwell