Rochelle Park, New Jersey Property Taxes
The median property tax rate in Rochelle Park, NJ is 2.75%, 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 Rochelle Park at $326,200, the typical annual property tax bill reaches $8,949, far exceeding the national median of $2,690. Property taxes in Rochelle Park 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 Rochelle Park'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 Rochelle Park 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
Rochelle Park, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.75%
Estimate Property Tax Bill
$8,971
Ownwell’s Rochelle Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rochelle Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rochelle Park 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 Rochelle Park, New Jersey
Property taxes in Rochelle Park, NJ, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rochelle Park is 2.75%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Rochelle Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rochelle Park 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 Rochelle Park's effective property tax rate to other areas in Bergen County and the national median. For comparison, the 07662 zip code has the highest median property tax rate of 2.75%, while the 07662 zip code also has the lowest median tax rate of 2.75%. Understanding how these areas compare with Rochelle Park 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 Rochelle Park Tax Rate
2.75%
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 Rochelle Park, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07662 | 2.74% | 2.74% | 2.74% | 2.75% | 2.75% |
Source: Ownwell
Property Tax Assessment Values Across Rochelle Park, New Jersey
In Rochelle Park, 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 Rochelle Park, 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 Rochelle Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Rochelle Park is $326,200, with the 25th percentile tax bill at $8,079 and the 75th percentile at $9,951. The highest and lowest median tax bills are both $8,949, found in zip code 07662.
Property Tax Assessment Values Across Rochelle Park, New Jersey
Source: Ownwell
$172,100
$10,136,050
$20,100,000
Average Rochelle Park Assessed Value
$326,200
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 Rochelle Park, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07662 | $261,240 | $294,600 | $326,200 | $363,100 | $410,940 |
Source: Ownwell
Property Tax Bills Across Rochelle Park, New Jersey
In Rochelle Park, located in Bergen County, NJ, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by local government assessors, who evaluate the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $326,200, homeowners can expect to pay a significant tax bill compared to the national median property tax rate of 0.99%. Various factors influence the tax bill, including property location, size, and market conditions. In Rochelle Park, tax bills vary widely, with the 25th percentile at $8,079 and the 75th percentile reaching $9,951. The highest median tax bill in the area is $8,949, which is notably higher than the national average. These high property taxes can significantly impact homeowners, making it crucial to understand how assessments and local rates affect their financial obligations.
Average Rochelle Park Tax Bill
$8,949
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 Rochelle Park, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07662 | $7,171 | $8,079 | $8,949 | $9,951 | $11,273 |
Source: Ownwell