Roseland, New Jersey Property Taxes
The median property tax rate in Roseland, NJ is 2.34%, 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 Roseland at $456,600, the typical annual property tax bill reaches $10,635, exceeding the national median of $2,690. Property taxes in Roseland 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 Roseland'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 Roseland 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
Roseland, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.34%
Estimate Property Tax Bill
$10,684
Ownwell’s Roseland Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Roseland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Roseland to provide an estimate of your property tax bill. This intuitive tool sheds light on potential tax liabilities, helping you make informed decisions. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Roseland, New Jersey
Property taxes in Roseland, 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 Roseland is 2.34%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Roseland set these rates annually, and they can vary across different neighborhoods. Each year, Roseland 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 Roseland's effective property tax rate to other areas in Essex County and the national median. For comparison, the 07068 zip code has the highest median property tax rate of 2.34%, while the same zip code also has the lowest median tax rate of 2.34%. Understanding how these areas compare with Roseland 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 Roseland Tax Rate
2.34%
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 Roseland, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07068 | 2.33% | 2.33% | 2.33% | 2.34% | 2.34% |
Source: Ownwell
Property Tax Assessment Values Across Roseland, New Jersey
In Roseland, 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 Roseland, 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 Roseland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Roseland is $10,635 in the 07068 zip code, while the lowest median tax bill is also $10,635 in the same zip code. The 25th percentile tax bill is $8,174, and the 75th percentile tax bill is $12,830, with the 90th percentile reaching $15,900.
Average Roseland Assessed Value
$456,600
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 Roseland, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07068 | $304,730 | $350,725 | $456,600 | $549,600 | $680,690 |
Source: Ownwell
Property Tax Bills Across Roseland, New Jersey
In Roseland, Essex County, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to produce the annual tax bill. With a median home price of $456,600, homeowners in Roseland can expect varying tax bills depending on the specific assessment of their property. Several factors influence the tax bill, including property size, location, and any improvements made. For instance, tax bills in Roseland range significantly, with the 25th percentile at $8,174 and the 75th percentile at $12,830. At the higher end, the 90th percentile tax bill reaches $15,900. This variation highlights how individual property characteristics and local assessment practices impact the final amount. Compared to the national median property tax rate of 0.99%, Roseland's tax rates result in higher bills, reflecting the region's property values and funding needs for local services. For homeowners, this means budgeting for a significant annual expense that supports community infrastructure, schools, and public services.
Average Roseland Tax Bill
$10,635
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 Roseland, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07068 | $7,105 | $8,174 | $10,635 | $12,830 | $15,900 |
Source: Ownwell