Clifton, New Jersey Property Taxes
The median property tax rate in Clifton, NJ is 3.86%, 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 Clifton, the typical annual property tax bill reaches $622, which is below the national median of $2,690. Property taxes in Clifton 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 Clifton'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 Clifton 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
Clifton, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.86%
Estimate Property Tax Bill
$621
Ownwell’s Clifton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clifton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clifton 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 Essex County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Clifton, New Jersey
Property taxes in Clifton, New Jersey, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clifton is 3.86%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Clifton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clifton 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 Clifton's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 07014 zip code has the highest median property tax rate of 3.86%, while the same zip code has the lowest median tax rate of 3.86%. Understanding how these cities compare with Clifton provides valuable insights into the varying tax landscape across Essex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clifton Tax Rate
3.86%
Average Essex County Tax Rate
3.51%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clifton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07014 | 3.86% | 3.86% | 3.86% | 3.86% | 3.86% |
Source: Ownwell
Property Tax Assessment Values Across Clifton, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Clifton, New Jersey. 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 Essex 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 Clifton, 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 Clifton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 07014 has both the highest and lowest median tax bills at $622.
Average Clifton Assessed Value
$16,100
Average Essex County Assessed Value
$335,900
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clifton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07014 | $16,100 | $16,100 | $16,100 | $16,100 | $16,100 |
Source: Ownwell
Property Tax Bills Across Clifton, New Jersey
In Clifton, Essex County, NJ, property tax bills are determined based on the assessed value of a home, which is then multiplied by the local tax rate. The assessed value is a percentage of the property's market value, and this figure is used to calculate the tax owed. Several factors influence the assessed value, including the property's location, size, and condition. For homeowners in Clifton, the median home price is $16,100, and the tax bill for various percentiles (25th, 75th, and 90th) is consistently $622. This uniformity suggests a stable tax environment, but it's crucial to note that the local tax rate can significantly impact the final bill. Compared to the national median property tax rate of 0.99%, Clifton's property taxes can be considered relatively modest. Understanding how these factors interplay helps homeowners anticipate their annual tax obligations, ensuring they can budget accordingly and avoid any surprises.
Average Clifton Tax Bill
$622
Average Essex County Tax Bill
$11,297
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Clifton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07014 | $622 | $622 | $622 | $622 | $622 |
Source: Ownwell