N Arlington, New Jersey Property Taxes
The median property tax rate in N Arlington, 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 N Arlington, the typical annual property tax bill reaches $15,506, exceeding the national median of $2,690. Property taxes in N Arlington 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 N Arlington'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 N Arlington 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
N Arlington, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.57%
Estimate Property Tax Bill
$15,500
$14,383
Ownwell’s N Arlington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in N Arlington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in N Arlington 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 N Arlington, New Jersey
Property taxes in North Arlington, New Jersey, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Arlington 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 North Arlington set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Arlington 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 North Arlington's effective property tax rate to other regions in New Jersey and the national median. For comparison, the 07031 zip code has the highest median property tax rate of 2.57%, while the lowest median tax rate in the area is also 2.57%. Understanding how these regions compare with North Arlington 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 N Arlington 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 N Arlington, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07031 | 2.57% | 2.57% | 2.57% | 2.57% | 2.57% |
Source: Ownwell
Property Tax Assessment Values Across N Arlington, New Jersey
In N Arlington, 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 N Arlington, 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 N Arlington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $15,506 in the 07031 zip code.
Property Tax Assessment Values Across N Arlington, New Jersey
Source: Ownwell
$172,100
$10,136,050
$20,100,000
Average N Arlington Assessed Value
$603,100
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 N Arlington, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07031 | $443,460 | $508,650 | $603,100 | $683,300 | $773,580 |
Source: Ownwell
Property Tax Bills Across N Arlington, New Jersey
In North Arlington, NJ, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is an estimate of your property's market value, which is then multiplied by the tax rate set by Bergen County. For instance, with a median home price of $603,100, homeowners can expect varying tax bills. The tax bill at the 25th percentile stands at $13,077, while those at the 75th percentile may see a bill of $17,568. The 90th percentile tax bill can go as high as $19,889. These tax bills significantly impact homeowners, as they are often a substantial part of yearly expenses. North Arlington's median tax bill is notably higher than the national median property tax rate of 0.99%, reflecting the region's higher property values and tax rates. Homeowners in the area need to be mindful of these costs, as they can influence decisions about purchasing or maintaining property in the long term.
Average N Arlington Tax Bill
$15,506
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 N Arlington, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07031 | $11,401 | $13,077 | $15,506 | $17,568 | $19,889 |
Source: Ownwell