North Bergen, New Jersey Property Taxes
The median property tax rate in North Bergen, NJ is 1.58%, considerably higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With the median home value in North Bergen at $488,700, the typical annual property tax bill reaches $7,718, significantly exceeding the national median of $2,690. Property taxes in North Bergen are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding North Bergen'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 North Bergen 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
North Bergen, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$7,721
Ownwell’s North Bergen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Bergen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Bergen 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 North Bergen, New Jersey
Property taxes in North Bergen, NJ, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Bergen is 1.58%, significantly higher than the U.S. national median of 0.99%. Local government entities within North Bergen set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Bergen 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 North Bergen's effective property tax rate to other areas in Hudson County and the national median. For comparison, the zip code 07047 has the highest median property tax rate of 1.58%, while the same zip code also has the lowest median tax rate of 1.58%. Understanding how these areas compare with North Bergen 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 North Bergen Tax Rate
1.58%
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 North Bergen, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07047 | 1.58% | 1.58% | 1.58% | 1.58% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across North Bergen, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in North Bergen. 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 Hudson 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. Assessment notices in North Bergen 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 North Bergen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in North Bergen is $488,700, with annual property tax bills ranging significantly, from $5,139 at the 25th percentile to $11,699 at the 90th percentile. The zip code 07047 has the highest and lowest median tax bill, both at $7,718.
Property Tax Assessment Values Across North Bergen, New Jersey
Source: Ownwell
$94,600
$413,325
$732,050
Average North Bergen Assessed Value
$488,700
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 North Bergen, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07047 | $197,820 | $325,950 | $488,700 | $625,350 | $740,200 |
Source: Ownwell
Property Tax Bills Across North Bergen, New Jersey
In North Bergen, located in Hudson County, 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 county assessor and is meant to reflect the market value of the property. Once the property’s assessed value is established, it is multiplied by the local tax rate to determine the tax bill. For example, with a median home price of $488,700, homeowners in North Bergen can expect tax bills that vary widely. The 25th percentile tax bill is around $5,139, while the 75th percentile tax bill reaches $9,878. At the 90th percentile, the tax bill can be as high as $11,699. The median tax bill in the area is $7,718, significantly higher than the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners in North Bergen.
Average North Bergen Tax Bill
$7,718
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 North Bergen, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07047 | $3,137 | $5,139 | $7,718 | $9,878 | $11,699 |
Source: Ownwell