Edgewater, Bergen County, New Jersey Property Taxes
Median Edgewater, NJ effective property tax rate: 1.61%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Edgewater, NJ home value: $530,500
Median annual Edgewater, NJ tax bill: $8,560, $6,160 higher than the national median property tax bill of $2,400.
How are property taxes in Bergen calculated?
Property taxes in Edgewater, NJ are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Edgewater’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Edgewater, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Edgewater, Bergen County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.61%
Estimate Property Tax Bill
$8,541
$7,926
Property Tax Rates Across Edgewater, Bergen County, New Jersey
Local government entities set tax rates, and these can vary significantly within a state. This variation occurs because each county annually estimates its budget needs for services and divides that by the total value of all taxable property in its area, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process.
In Edgewater, located in Bergen County, NJ, the effective property tax rate is 1.61%. This rate is higher than the national median property tax rate of 1.02%, reflecting the specific budgetary requirements and property values within the county. When compared to other cities in New Jersey, Edgewater's tax rate is consistent with the state's median. However, it is important to note that the property tax bill residents receive is also influenced by the assessed value of their property. Understanding how these rates are determined can help property owners make informed decisions about appealing their property taxes or seeking exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Edgewater Tax Rate
1.61%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Bergen County Tax Rate
2.73%
Median Effective New Jersey Tax Rate
2.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Edgewater, Bergen County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07020 | 1.61% | 1.61% | 1.61% | 1.61% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Edgewater, Bergen County, New Jersey
When examining property taxes in Edgewater, NJ, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Bergen County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices: In Bergen County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Edgewater. For example, the median home price in Edgewater is $530,500, with tax bills ranging significantly across the county. 07020 has the highest median home price at $530,500.
Property Tax Assessment Values Across Edgewater, Bergen County, New Jersey
Source: Ownwell
$256,600
$1,236,600
$2,216,600
Median Edgewater Market Value
$530,500
Median Bergen County Market Value
$421,800
Median New Jersey Market Value
$282,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across Edgewater, Bergen County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07020 | $278,020 | $381,700 | $530,500 | $732,800 | $1,032,160 |
Source: Ownwell
Property Tax Bills Across Edgewater, Bergen County, New Jersey
Median Edgewater Tax Bill
$8,560
Median Bergen County Tax Bill
$11,253
Median New Jersey Tax Bill
$8,227
Median United States Tax Bill
$2,400
Property Tax Bills Across Edgewater, Bergen County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07020 | $4,499 | $6,159 | $8,560 | $11,813 | $16,626 |
Source: Ownwell