Fredon Township, New Jersey Property Taxes
The median property tax rate in Fredon Township, NJ is 2.93%, 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 Fredon Township, the typical annual property tax bill reaches $10,801, exceeding the national median of $2,690. Property taxes in Fredon Township 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 Fredon Township'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 Fredon Township or another part of Sussex County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fredon Township, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.93%
Estimate Property Tax Bill
$10,819
Ownwell’s Fredon Township Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fredon Township with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fredon Township 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 Fredon Township, New Jersey
Property taxes in Fredon Township, NJ, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Fredon Township is 2.93%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Fredon Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fredon Township 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 Fredon Township's effective property tax rate to other areas in New Jersey and the national median. For comparison, the zip code 07860 has the highest median property tax rate of 2.93%, while the same zip code also has the lowest median tax rate of 2.93%. Understanding how these areas compare with Fredon Township provides valuable insights into the varying tax landscape across Sussex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fredon Township Tax Rate
2.93%
Average Sussex County Tax Rate
3.40%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fredon Township, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07860 | 2.93% | 2.93% | 2.93% | 2.93% | 2.93% |
Source: Ownwell
Property Tax Assessment Values Across Fredon Township, New Jersey
In Fredon Township, 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 Sussex 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 Fredon Township, 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 Fredon Township helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Fredon Township is $369,250, with tax bills ranging from $9,189 at the 25th percentile to $13,928 at the 90th percentile. Notably, the zip code 07860 has the highest and lowest median tax bill of $10,801.
Property Tax Assessment Values Across Fredon Township, New Jersey
Source: Ownwell
$63,850
$216,550
$369,250
Average Fredon Township Assessed Value
$369,250
Average Sussex County Assessed Value
$229,300
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fredon Township, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07860 | $251,730 | $307,875 | $369,250 | $455,275 | $476,170 |
Source: Ownwell
Property Tax Bills Across Fredon Township, New Jersey
In Fredon Township, Sussex County, NJ, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, which is periodically evaluated by local assessors. Various factors such as property size, location, and improvements can influence the assessed value. Homeowners in Fredon Township experience property tax bills that can vary significantly. For instance, the 25th percentile tax bill is around $9,189, while the 75th percentile reaches $13,406. The highest median tax bill in the area is $10,801, which is considerably above the national median property tax rate of 0.99%. This disparity highlights the relatively high property taxes in the region. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Consequently, homeowners should be aware of how these factors contribute to their overall tax burden and consider them when assessing the affordability of their property.
Average Fredon Township Tax Bill
$10,801
Average Sussex County Tax Bill
$7,518
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Fredon Township, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07860 | $7,422 | $9,189 | $10,801 | $13,406 | $13,928 |
Source: Ownwell