Clifton, New Jersey Property Taxes
The median property tax rate in Clifton, NJ is 5.71%, 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 $9,336, exceeding the national median of $2,690. Property taxes in Clifton are calculated based on the 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
5.71%
Estimate Property Tax Bill
$9,627
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 the 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 5.71%, significantly higher than 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 areas in New Jersey and the national median. For comparison, the 07013 zip code has the highest median property tax rate of 5.71%, while the 07011 zip code has the lowest median tax rate of 5.71%. Understanding how these areas compare with Clifton provides valuable insights into the varying tax landscape across Passaic County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clifton Tax Rate
5.71%
Average Passaic County Tax Rate
4.57%
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 |
|---|---|---|---|---|---|
| 07011 | 4.97% | 5.70% | 5.71% | 5.71% | 5.71% |
| 07012 | 4.64% | 5.48% | 5.71% | 5.71% | 5.71% |
| 07013 | 4.67% | 5.56% | 5.71% | 5.71% | 5.71% |
| 07014 | 4.67% | 5.71% | 5.71% | 5.71% | 5.71% |
Source: Ownwell
Property Tax Assessment Values Across Clifton, New Jersey
In Clifton, 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 local 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 highest median tax bill in Clifton is $9,992 in zip code 07013, while the lowest is $8,731 in zip code 07011.
Average Clifton Assessed Value
$168,600
Average Passaic County Assessed Value
$226,800
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 |
|---|---|---|---|---|---|
| 07011 | $127,700 | $140,700 | $156,600 | $177,200 | $200,200 |
| 07012 | $145,530 | $157,000 | $173,700 | $201,200 | $246,470 |
| 07013 | $140,170 | $157,400 | $180,300 | $217,900 | $265,530 |
| 07014 | $121,700 | $140,500 | $162,900 | $189,000 | $223,220 |
Source: Ownwell
Property Tax Bills Across Clifton, New Jersey
In Clifton, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The median home price in Clifton is $168,600. The assessed value is then multiplied by the local property tax rate to determine the tax bill. Several factors influence this assessment, including the property's market value, location, and any improvements or modifications made to the property. For homeowners in Clifton, the tax bill can vary significantly. The 25th percentile tax bill is around $8,154, while the 75th percentile reaches $11,049. Those in the 90th percentile can expect to pay as much as $13,510. Notably, the highest median tax bill in Clifton is $9,992 in the 07013 zip code, while the lowest is $8,731 in the 07011 zip code. Compared to the national median property tax rate of 0.99%, Clifton's rates are notably higher, impacting homeowners with substantial annual tax obligations. This can influence decisions on homeownership and property investments within the city.
Average Clifton Tax Bill
$9,336
Average Passaic County Tax Bill
$9,911
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 |
|---|---|---|---|---|---|
| 07011 | $6,666 | $7,726 | $8,731 | $9,958 | $11,260 |
| 07012 | $7,549 | $8,528 | $9,610 | $11,280 | $13,893 |
| 07013 | $7,141 | $8,611 | $9,992 | $12,185 | $14,893 |
| 07014 | $6,789 | $7,682 | $9,085 | $10,672 | $12,619 |
Source: Ownwell