Orange, New Jersey Property Taxes
The median property tax rate in Orange, NJ is 3.47%, 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 Orange at $313,100, the typical annual property tax bill reaches $10,904, exceeding the national median of $2,690. Property taxes in Orange 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 Orange'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 Orange 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
Orange, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.47%
Estimate Property Tax Bill
$10,865
Ownwell’s Orange Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Orange with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Orange to provide an estimate of 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 Orange, New Jersey
Property taxes in Orange, New Jersey, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Orange is 3.47%, significantly higher than the U.S. national median of 0.99%. Local government entities within Orange set these rates annually, and they can vary significantly across different neighborhoods. Each year, Orange 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 Orange's effective property tax rate to other areas and the national median. For comparison, the zip code 07050 has the highest median property tax rate of 3.47%, while the same zip code also has the lowest median tax rate of 3.47%. Understanding how these rates compare with Orange 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 Orange Tax Rate
3.47%
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 Orange, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07050 | 3.47% | 3.47% | 3.47% | 3.47% | 3.47% |
Source: Ownwell
Property Tax Assessment Values Across Orange, New Jersey
In Orange, 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 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 Orange, 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 Orange is $313,100, with tax bills ranging from the 25th percentile at $8,268 to the 90th percentile at $15,880. 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 Orange helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Orange Assessed Value
$313,100
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 Orange, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07050 | $162,730 | $235,575 | $313,100 | $387,525 | $457,310 |
Source: Ownwell
Property Tax Bills Across Orange, New Jersey
In Orange, Essex 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 the local tax assessor and ideally reflects the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the property's location, size, and condition. In Orange, the median home price is $313,100, which significantly impacts the property tax calculations. The tax bills in Orange range widely, with the 25th percentile at $8,268 and the 75th percentile at $13,472. The 90th percentile tax bill can go as high as $15,880. Comparatively, Orange has one of the highest median tax bills in the nation, with a median tax bill of $10,904. This high property tax rate can significantly affect homeowners, making it crucial for them to understand their tax obligations and potential exemptions.
Average Orange Tax Bill
$10,904
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 Orange, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07050 | $5,652 | $8,268 | $10,904 | $13,472 | $15,880 |
Source: Ownwell