Cliffside Park, New Jersey Property Taxes
The median property tax rate in Cliffside Park, NJ is 2.57%, 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 Cliffside Park at $354,400, the typical annual property tax bill reaches $9,090, far exceeding the national median of $2,690. Property taxes in Cliffside Park 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 Cliffside Park'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 Cliffside Park 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
Cliffside Park, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.57%
Estimate Property Tax Bill
$9,108
$8,452
Ownwell’s Cliffside Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cliffside Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cliffside Park 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 Cliffside Park, New Jersey
Property taxes in Cliffside Park, New Jersey, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cliffside Park is 2.57%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Cliffside Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cliffside Park 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 Cliffside Park's effective property tax rate to other areas in New Jersey and the national median. For comparison, the 07010 zip code has the highest median property tax rate of 2.57%, while the same zip code also has the lowest median tax rate of 2.57%. Understanding how these cities compare with Cliffside Park 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 Cliffside Park Tax Rate
2.57%
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 Cliffside Park, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07010 | 2.56% | 2.56% | 2.56% | 2.57% | 2.57% |
Source: Ownwell
Property Tax Assessment Values Across Cliffside Park, New Jersey
In Cliffside Park, 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 Cliffside Park, 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 Cliffside Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 07010, with a median tax bill of $9,090.
Property Tax Assessment Values Across Cliffside Park, New Jersey
Source: Ownwell
$172,100
$10,136,050
$20,100,000
Average Cliffside Park Assessed Value
$354,400
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 Cliffside Park, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07010 | $171,400 | $285,300 | $354,400 | $450,400 | $547,810 |
Source: Ownwell
Property Tax Bills Across Cliffside Park, New Jersey
Property tax bills in Cliffside Park, located in Bergen County, NJ, are primarily determined by the assessed value of a property and the local tax rate. The assessed value is an estimate of the property's market value, which is calculated by the local tax assessor. This value is then multiplied by the tax rate set by the local government to determine the annual tax bill. Several factors influence the assessed value, including the property's size, location, condition, and recent sale prices of comparable properties in the area. For homeowners in Cliffside Park, the median home price stands at $354,400, resulting in substantial property tax bills. The 25th percentile tax bill is $7,318, while the 75th percentile tax bill rises to $11,553. At the 90th percentile, the tax bill can reach up to $14,051. These figures are significantly higher than the national median property tax rate of 0.99%, reflecting the higher property values and tax rates in this region. As a result, homeowners in Cliffside Park face considerable financial commitments regarding property taxes.
Average Cliffside Park Tax Bill
$9,090
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 Cliffside Park, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07010 | $4,396 | $7,318 | $9,090 | $11,553 | $14,051 |
Source: Ownwell