Hewitt, New Jersey Property Taxes
The median property tax rate in Hewitt, NJ is 3.99%, 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 Hewitt, the typical annual property tax bill reaches $8,405, exceeding the national median of $2,690. Property taxes in Hewitt 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 Hewitt'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 Hewitt 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
Hewitt, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.99%
Estimate Property Tax Bill
$8,698
Ownwell’s Hewitt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hewitt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hewitt 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 Hewitt, New Jersey
Property taxes in Hewitt, New Jersey, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hewitt is 3.99%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Hewitt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hewitt 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 Hewitt's effective property tax rate to other areas in New Jersey and the national median. For comparison, the zip code 07421 has the highest median property tax rate of 3.99%, while the same zip code also has the lowest median tax rate of 3.99%. Understanding how these figures compare with Hewitt provides valuable insights into the varying tax landscape across Passaic County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hewitt Tax Rate
3.99%
Average Passaic County Tax Rate
4.57%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hewitt, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07421 | 3.35% | 3.99% | 3.99% | 3.99% | 3.99% |
Source: Ownwell
Property Tax Assessment Values Across Hewitt, New Jersey
In Hewitt, 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 Passaic 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 Hewitt, 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. For example, the median home price in Hewitt is $218,000, with tax bills ranging from $6,474 at the 25th percentile to $14,344 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 Hewitt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hewitt Assessed Value
$218,000
Average Passaic County Assessed Value
$226,800
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hewitt, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07421 | $132,380 | $168,700 | $218,000 | $276,950 | $362,040 |
Source: Ownwell
Property Tax Bills Across Hewitt, New Jersey
In Hewitt, located in Passaic 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 assessor and reflects the market value of the property. This assessed value is then multiplied by the tax rate to determine the annual tax bill. For homeowners in Hewitt, the property tax rate is notably higher than the national median of 0.99%. The median home price in Hewitt is $218,000, leading to substantial tax bills. For example, the 25th percentile tax bill is $6,474, while the 75th percentile reaches $10,818, and the 90th percentile goes up to $14,344. The highest median tax bill recorded in the area is $8,405, all within the zip code 07421. These high property tax bills can significantly impact homeowners, making it crucial for them to understand the factors that contribute to their tax obligations. Accurate assessments and an awareness of the local tax rate are essential for financial planning and managing annual expenses.
Average Hewitt Tax Bill
$8,405
Average Passaic County Tax Bill
$9,911
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Hewitt, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07421 | $5,081 | $6,474 | $8,405 | $10,818 | $14,344 |
Source: Ownwell