Fords, New Jersey Property Taxes
The median property tax rate in Fords, NJ is 11.93%, significantly higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With a median home value in Fords, the typical annual property tax bill reaches $8,677, far exceeding the national median of $2,690. Property taxes in Fords 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 Fords' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Fords 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
Fords, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
11.93%
Estimate Property Tax Bill
$8,983
Ownwell’s Fords Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fords with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fords 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 Fords, New Jersey
Property taxes in Fords, New Jersey, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fords is 11.93%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Fords set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fords 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 Fords' effective property tax rate to other areas in New Jersey and the national median. For comparison, the 08863 zip code has the highest median property tax rate of 11.93%, while the same zip code also has the lowest median tax rate of 11.93%. Understanding how these areas compare with Fords provides valuable insights into the varying tax landscape across Middlesex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fords Tax Rate
11.93%
Average Middlesex County Tax Rate
5.10%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fords, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08863 | 10.76% | 11.57% | 11.93% | 11.93% | 12.02% |
Source: Ownwell
Property Tax Assessment Values Across Fords, New Jersey
In Fords, 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 Middlesex 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 Fords 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 Fords helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Fords is 08863, with a median tax bill of $8,677.
Average Fords Assessed Value
$75,300
Average Middlesex County Assessed Value
$158,000
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fords, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08863 | $54,900 | $64,000 | $75,300 | $85,700 | $99,450 |
Source: Ownwell
Property Tax Bills Across Fords, New Jersey
In Fords, Middlesex 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 local assessors who evaluate the property's market value. Homeowners in Fords face a median property tax rate that often exceeds the national median of 0.99%. For instance, the tax bill in Fords can range significantly, with the 25th percentile at $7,289 and the 75th percentile at $10,044, indicating a substantial variation depending on property value and other factors. The 90th percentile tax bill reaches up to $11,655, reflecting the higher end of the spectrum. For a median home price of $75,300, these tax bills represent a significant annual expense. This high property tax burden can affect homeowners by increasing the cost of homeownership and potentially influencing decisions related to buying, selling, or investing in property within the area.
Average Fords Tax Bill
$8,677
Average Middlesex County Tax Bill
$7,840
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Fords, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08863 | $6,060 | $7,289 | $8,677 | $10,044 | $11,655 |
Source: Ownwell