Moonachie, New Jersey Property Taxes
The median property tax rate in Moonachie, NJ is 2.16%, 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 Moonachie at $375,300, the typical annual property tax bill reaches $8,103, significantly exceeding the national median of $2,690. Property taxes in Moonachie 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 Moonachie'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 Moonachie 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
Moonachie, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.16%
Estimate Property Tax Bill
$8,106
$7,523
Ownwell’s Moonachie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moonachie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moonachie 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 Moonachie, New Jersey
Property taxes in Moonachie, New Jersey, are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Moonachie is 2.16%, which is significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Moonachie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moonachie 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 Moonachie's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 07074 has the highest median property tax rate of 2.16%, while the same zip code also represents the lowest median tax rate of 2.16%. Understanding how these cities compare with Moonachie 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 Moonachie Tax Rate
2.16%
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 Moonachie, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07074 | 2.16% | 2.16% | 2.16% | 2.16% | 2.16% |
Source: Ownwell
Property Tax Assessment Values Across Moonachie, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Moonachie, New Jersey. 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 Moonachie, 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. For instance, the highest median tax bill in the area is $8,103 in the 07074 zip code, which is also the lowest median 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 Moonachie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Moonachie, New Jersey
Source: Ownwell
$172,100
$10,136,050
$20,100,000
Average Moonachie Assessed Value
$375,300
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 Moonachie, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07074 | $283,120 | $313,600 | $375,300 | $472,800 | $536,740 |
Source: Ownwell
Property Tax Bills Across Moonachie, New Jersey
In Moonachie, located in Bergen County, NJ, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The local tax assessor determines the assessed value, which is a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the tax bill, including property size, location, and any improvements made to the home. For instance, Moonachie homeowners can expect median property tax bills around $8,103, which is significantly higher than the national median property tax rate of 0.99%. Tax bills can vary widely, with the 25th percentile at $6,771 and the 75th percentile at $10,212, reflecting the diverse property values within the area. High property taxes can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability and long-term financial planning. However, these taxes also fund essential community services such as schools, public safety, and infrastructure, contributing to the overall quality of life in Moonachie.
Average Moonachie Tax Bill
$8,103
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 Moonachie, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07074 | $6,113 | $6,771 | $8,103 | $10,212 | $11,588 |
Source: Ownwell