Carlstadt, New Jersey Property Taxes
The median property tax rate in Carlstadt, NJ is 1.69%, considerably higher than the national median of 0.99% but lower than the New Jersey state median of 2.82%. With the median home value in Carlstadt at $412,050, the typical annual property tax bill reaches $6,960, significantly exceeding the national median of $2,690. Property taxes in Carlstadt 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 Carlstadt'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 Carlstadt 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
Carlstadt, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.69%
Estimate Property Tax Bill
$6,964
Ownwell’s Carlstadt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carlstadt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carlstadt 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 Carlstadt, New Jersey
Property taxes in Carlstadt, New Jersey, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carlstadt is 1.69%, significantly higher than the U.S. national median of 0.99%. Local government entities within Carlstadt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carlstadt 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 Carlstadt's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 07072 zip code has the highest median property tax rate of 1.69%, while the 07072 zip code has the lowest median tax rate of 1.69%. Understanding how these cities compare with Carlstadt provides valuable insights into the varying tax landscape across Bergen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carlstadt Tax Rate
1.69%
Average Bergen County Tax Rate
2.73%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carlstadt, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07072 | 1.69% | 1.69% | 1.69% | 1.69% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Carlstadt, New Jersey
In Carlstadt, 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 Bergen 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 Carlstadt, 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. Being aware of these valuation processes in Carlstadt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Carlstadt is $412,050, with tax bills ranging from $5,907 at the 25th percentile to $10,778 at the 90th percentile. The zip code 07072 has both the highest and lowest median tax bill at $6,960.
Property Tax Assessment Values Across Carlstadt, New Jersey
Source: Ownwell
$172,100
$10,136,050
$20,100,000
Average Carlstadt Assessed Value
$412,050
Average Bergen County Assessed Value
$421,800
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carlstadt, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07072 | $315,100 | $350,050 | $412,050 | $501,925 | $638,520 |
Source: Ownwell
Property Tax Bills Across Carlstadt, New Jersey
In Carlstadt, located in Bergen County, NJ, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the tax rate to calculate the annual tax bill. For example, with a median home price of $412,050, homeowners can expect tax bills ranging from $5,907 at the 25th percentile to $10,778 at the 90th percentile. Several factors influence the assessed value, including recent home sales, property condition, and neighborhood characteristics. This ensures that tax bills reflect the current market conditions. Compared to the national median property tax rate of 0.99%, Carlstadt's property taxes are significantly higher, impacting homeowners by increasing their annual expenses. This can affect affordability and long-term financial planning for residents. Understanding these factors can help homeowners anticipate their property tax obligations and manage their budgets more effectively.
Average Carlstadt Tax Bill
$6,960
Average Bergen County Tax Bill
$11,253
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Carlstadt, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07072 | $5,319 | $5,907 | $6,960 | $8,479 | $10,778 |
Source: Ownwell