Haworth, New Jersey Property Taxes
The median property tax rate in Haworth, NJ is 2.98%, significantly higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With the median home value in Haworth at $573,800, the typical annual property tax bill amounts to $17,073, far exceeding the national median of $2,690. Property taxes in Haworth 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 Haworth'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 Haworth or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Haworth, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.98%
Estimate Property Tax Bill
$17,099
Ownwell’s Haworth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Haworth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Haworth 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 Haworth, New Jersey
Property taxes in Haworth, New Jersey, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Haworth is 2.98%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Haworth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Haworth 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 Haworth's effective property tax rate to other areas in Bergen County and the national median. For comparison, the zip code 07641 has the highest median property tax rate of 2.98%, while the lowest is also 2.98%. Understanding how these areas compare with Haworth 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 Haworth Tax Rate
2.98%
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 Haworth, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07641 | 2.98% | 2.98% | 2.98% | 2.98% | 2.98% |
Source: Ownwell
Property Tax Assessment Values Across Haworth, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Haworth, NJ. 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 Haworth, 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 Haworth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 07641 has the highest median tax bill at $17,073, providing a clear picture of the local tax landscape.
Property Tax Assessment Values Across Haworth, New Jersey
Source: Ownwell
$172,100
$10,136,050
$20,100,000
Average Haworth Assessed Value
$573,800
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 Haworth, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07641 | $381,780 | $461,250 | $573,800 | $728,050 | $954,340 |
Source: Ownwell
Property Tax Bills Across Haworth, New Jersey
In Haworth, Bergen 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 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. For homeowners in Haworth, the tax bills can vary significantly. At the 25th percentile, the tax bill is $13,736, while at the 75th percentile, it rises to $21,689. The 90th percentile sees tax bills as high as $28,430. The median home price in Haworth is $573,800, and the median property tax bill in the area is $17,073, which is significantly higher than the national median property tax rate of 0.99%. These high property taxes can impact homeowners by increasing the overall cost of owning a home, potentially affecting affordability and long-term financial planning.
Average Haworth Tax Bill
$17,073
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 Haworth, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07641 | $11,373 | $13,736 | $17,073 | $21,689 | $28,430 |
Source: Ownwell