Livingston, New Jersey Property Taxes
The median property tax rate in Livingston, NJ is 2.33%, 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 Livingston, the typical annual property tax bill reaches $13,741, exceeding the national median of $2,690. Property taxes in Livingston 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 Livingston'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 Livingston 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
Livingston, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.33%
Estimate Property Tax Bill
$13,727
Ownwell’s Livingston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Livingston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Livingston 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 Livingston, New Jersey
Property taxes in Livingston, NJ, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Livingston is 2.33%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Livingston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Livingston 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 Livingston's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 07039 zip code has the highest median property tax rate of 2.33%, while the same zip code also has the lowest median tax rate of 2.33%. Understanding how these cities compare with Livingston 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 Livingston Tax Rate
2.33%
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 Livingston, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07039 | 2.33% | 2.33% | 2.33% | 2.33% | 2.33% |
Source: Ownwell
Property Tax Assessment Values Across Livingston, New Jersey
In Livingston, NJ, 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 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. 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. Livingston's median home price is $589,150, with the 25th percentile tax bill at $11,426 and the 75th percentile tax bill at $18,174. The highest median tax bill in Livingston is $13,741, which is also the lowest median tax bill, both found in the 07039 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Livingston, New Jersey
Source: Ownwell
$16,100
$687,250
$1,358,400
Average Livingston Assessed Value
$589,150
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 Livingston, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07039 | $436,700 | $490,200 | $589,150 | $779,100 | $1,105,120 |
Source: Ownwell
Property Tax Bills Across Livingston, New Jersey
Property tax bills in Livingston, Essex County, NJ, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local assessor, who evaluates the property's market value. This value is then multiplied by the tax rate set by the local government to calculate the annual tax bill. In Livingston, the median home price is $589,150, and the median property tax bill stands at $13,741, significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and market conditions. Homeowners in the 25th percentile can expect to pay around $11,426, while those in the 75th percentile might see bills as high as $18,174. For the top 10% of properties, tax bills can soar to $25,741. These substantial tax bills can impact homeowners' finances, making it essential for property owners to understand their assessments and explore potential exemptions or appeals.
Average Livingston Tax Bill
$13,741
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 Livingston, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07039 | $10,164 | $11,426 | $13,741 | $18,174 | $25,741 |
Source: Ownwell