Oradell, New Jersey Property Taxes
The median property tax rate in Oradell, NJ is 2.67%, 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 Oradell at $576,800, the typical annual property tax bill reaches $15,410, far exceeding the national median of $2,690. Property taxes in Oradell 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 Oradell'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 Oradell 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
Oradell, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.67%
Estimate Property Tax Bill
$15,401
Ownwell’s Oradell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oradell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oradell 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 Oradell, New Jersey
Property taxes in Oradell, 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 Oradell is 2.67%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Oradell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oradell 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 Oradell's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 07649 zip code has the highest median property tax rate of 2.67%, while the 07649 zip code also has the lowest median tax rate of 2.67%. Understanding how these cities compare with Oradell 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 Oradell Tax Rate
2.67%
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 Oradell, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07649 | 2.67% | 2.67% | 2.67% | 2.67% | 2.67% |
Source: Ownwell
Property Tax Assessment Values Across Oradell, New Jersey
In Oradell, 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 Oradell, 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 Oradell is $576,800, with tax bills ranging from $13,054 at the 25th percentile to $21,424 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 Oradell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Oradell, New Jersey
Source: Ownwell
$172,100
$10,136,050
$20,100,000
Average Oradell Assessed Value
$576,800
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 Oradell, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07649 | $418,600 | $488,200 | $576,800 | $682,100 | $801,200 |
Source: Ownwell
Property Tax Bills Across Oradell, New Jersey
In Oradell, 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 Bergen County tax assessor and is ideally a percentage of the market value. Homeowners in Oradell face a property tax rate that can significantly impact their annual expenses. For instance, the median home price in Oradell is $576,800, leading to substantial tax bills. The tax bill is influenced by several factors, including the market value of the property, the assessment ratio, and the local tax rate set by Bergen County. For example, the 25th percentile tax bill is $13,054, while the 75th percentile tax bill reaches $18,239. At the 90th percentile, homeowners might see tax bills as high as $21,424. These figures highlight the substantial financial commitment required for property taxes in Oradell, especially when compared to the national median property tax rate of 0.99%. Understanding these factors can help homeowners better plan their finances and anticipate their annual property tax obligations.
Average Oradell Tax Bill
$15,410
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 Oradell, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07649 | $11,185 | $13,054 | $15,410 | $18,239 | $21,424 |
Source: Ownwell