West New York, New Jersey Property Taxes
The median property tax rate in West New York, NJ is 7.76%, significantly higher than both the national median of 0.99% and New Jersey's state median of 2.82%. With a median home value of $135,650 in West New York, the typical annual property tax bill reaches $8,212, far exceeding the national median of $2,690. Property taxes in West New York are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding West New York'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 West New York 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
West New York, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
7.76%
Estimate Property Tax Bill
$10,526
Ownwell’s West New York Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in West New York with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West New York 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 Hudson County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across West New York, New Jersey
Property taxes in West New York, New Jersey, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in West New York is 7.76%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within West New York set these rates annually, and they can vary significantly across different neighborhoods. Each year, West New York 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 West New York'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 7.76%, while the same zip code also has the lowest median tax rate of 7.76%. Understanding how these cities compare with West New York 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 West New York Tax Rate
7.76%
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 West New York, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07093 | 3.88% | 7.76% | 7.76% | 7.76% | 7.76% |
Source: Ownwell
Property Tax Assessment Values Across West New York, New Jersey
In West New York, 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 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. In West New York, 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. For example, the median home price in West New York is $135,650, with tax bills ranging from $5,041 at the 25th percentile to $13,584 at the 90th percentile. Notably, the zip code 07093 has the highest and lowest median tax bill at $8,212. 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 West New York, New Jersey
Source: Ownwell
$94,600
$413,325
$732,050
Average West New York Assessed Value
$135,650
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 West New York, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07093 | $22,990 | $74,300 | $135,650 | $206,000 | $285,400 |
Source: Ownwell
Property Tax Bills Across West New York, New Jersey
In West New York, 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 local tax assessor and is a percentage of the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the assessed value, including the property's age, size, location, and condition. The median home price in West New York is $135,650, which results in a median tax bill of $8,212. This is significantly higher than the national median property tax rate of 0.99%, reflecting the area's higher property values and tax rates. Homeowners in West New York can expect their tax bills to vary, with the 25th percentile at $5,041 and the 75th percentile at $10,725. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life.
Average West New York Tax Bill
$8,212
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 West New York, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07093 | $1,948 | $5,041 | $8,212 | $10,725 | $13,584 |
Source: Ownwell