Bergenfield, New Jersey Property Taxes
The median property tax rate in Bergenfield, NJ is 3.36%, significantly higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With the median home value in Bergenfield at $304,200, the typical annual property tax bill reaches $10,209, far surpassing the national median of $2,690. Property taxes in Bergenfield 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 Bergenfield'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 Bergenfield 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
Bergenfield, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.36%
Estimate Property Tax Bill
$10,221
$9,485
Ownwell’s Bergenfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bergenfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bergenfield 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 Bergenfield, New Jersey
Property taxes in Bergenfield, NJ, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bergenfield is 3.36%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Bergenfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bergenfield 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 Bergenfield's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 07621 zip code has the highest median property tax rate of 3.36%, while the same zip code also has the lowest median tax rate of 3.36%. Understanding how these cities compare with Bergenfield provides valuable insights into the varying tax landscape across Bergen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bergenfield Tax Rate
3.36%
Average Bergen County Tax Rate
2.73%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bergenfield, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07621 | 3.36% | 3.36% | 3.36% | 3.36% | 3.36% |
Source: Ownwell
Property Tax Assessment Values Across Bergenfield, New Jersey
In Bergenfield, 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 Bergen 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 Bergenfield, 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 Bergenfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Bergenfield is $10,209 in the 07621 zip code, which is significantly above the national median property tax rate of 0.99%. Knowing these figures can help homeowners better understand their tax obligations and explore potential savings.
Property Tax Assessment Values Across Bergenfield, New Jersey
Source: Ownwell
$172,100
$10,136,050
$20,100,000
Average Bergenfield Assessed Value
$304,200
Average Bergen County Assessed Value
$421,800
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bergenfield, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07621 | $247,100 | $273,700 | $304,200 | $353,500 | $444,600 |
Source: Ownwell
Property Tax Bills Across Bergenfield, New Jersey
In Bergenfield, NJ, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor and is supposed to reflect the market value of the property. The tax rate is set by the local government and is applied to the assessed value to calculate the annual tax bill. Several factors influence the tax bill, including property size, location, and improvements. In Bergenfield, the median home price is $304,200, and property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $9,178, while at the 75th percentile, it's $11,863, and at the 90th percentile, it reaches $14,925. These high property taxes can significantly impact homeowners, making budgeting and financial planning crucial. Notably, Bergenfield's median tax bill of $10,209 is substantially higher than the national median property tax rate of 0.99%, reflecting the area's higher property values and tax rates.
Average Bergenfield Tax Bill
$10,209
Average Bergen County Tax Bill
$11,253
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Bergenfield, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07621 | $8,272 | $9,178 | $10,209 | $11,863 | $14,925 |
Source: Ownwell