North Plainfield, New Jersey Property Taxes
The median property tax rate in North Plainfield, NJ is 4.08%, significantly higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With a median home value of $235,000 in North Plainfield, the typical annual property tax bill reaches $9,386, far exceeding the national median of $2,690. Property taxes in North Plainfield are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding North Plainfield'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 Plainfield 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 Plainfield, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.08%
Estimate Property Tax Bill
$9,588
Ownwell’s North Plainfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Plainfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Plainfield 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 Plainfield, New Jersey
Property taxes in North Plainfield, New Jersey, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Plainfield is 4.08%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within North Plainfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Plainfield 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 Plainfield's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 07060 zip code has the highest median property tax rate of 4.08%, while the 07060 zip code also has the lowest median tax rate of 4.08%. Understanding how these cities compare with North Plainfield provides valuable insights into the varying tax landscape across Somerset County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average North Plainfield Tax Rate
4.08%
Average Somerset County Tax Rate
2.05%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Plainfield, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07060 | 3.70% | 4.08% | 4.08% | 4.08% | 4.08% |
| 07062 | 3.70% | 4.03% | 4.08% | 4.08% | 4.08% |
| 07063 | 3.70% | 4.03% | 4.08% | 4.08% | 4.08% |
Source: Ownwell
Property Tax Assessment Values Across North Plainfield, New Jersey
In North Plainfield, 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 Somerset 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 North Plainfield, 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 the area is $235,000, with tax bills ranging from $8,059 at the 25th percentile to $11,835 at the 90th percentile. The highest median tax bill is $10,019 in zip code 07062, while the lowest is $9,386 in zip code 07060. 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 Plainfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across North Plainfield, New Jersey
Source: Ownwell
$230,000
$621,625
$1,013,250
Average North Plainfield Assessed Value
$235,000
Average Somerset County Assessed Value
$415,100
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across North Plainfield, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07060 | $70,000 | $190,000 | $234,000 | $263,300 | $297,880 |
| 07062 | $175,000 | $210,000 | $250,000 | $281,850 | $310,080 |
| 07063 | $200,000 | $220,000 | $230,000 | $250,000 | $280,000 |
Source: Ownwell
Property Tax Bills Across North Plainfield, New Jersey
In North Plainfield, 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 intended to reflect the market value of the property. This value is then multiplied by the tax rate set by the local government to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition, as well as recent sales of similar properties in the area. In North Plainfield, the median home price stands at $235,000. Homeowners in this area can expect their tax bills to vary significantly, with the 25th percentile at $8,059 and the 75th percentile reaching $10,611. The highest median tax bill in the nearby region is $10,019, while the lowest is $9,386. These property taxes fund essential services such as schools, infrastructure, and public safety, directly impacting homeowners by contributing to the overall quality of life in the community.
Average North Plainfield Tax Bill
$9,386
Average Somerset County Tax Bill
$9,311
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across North Plainfield, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07060 | $2,857 | $7,509 | $9,386 | $10,611 | $11,835 |
| 07062 | $7,142 | $8,448 | $10,019 | $11,441 | $12,651 |
| 07063 | $7,992 | $8,570 | $9,386 | $10,202 | $11,329 |
Source: Ownwell