Saddle Brook, New Jersey Property Taxes
The median property tax rate in Saddle Brook, NJ is 2.40%, 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 Saddle Brook at $388,700, the typical annual property tax bill reaches $9,335, far exceeding the national median of $2,690. Property taxes in Saddle Brook 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 Saddle Brook'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 Saddle Brook 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
Saddle Brook, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.4%
Estimate Property Tax Bill
$9,329
$8,657
Ownwell’s Saddle Brook Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saddle Brook with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saddle Brook 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 Saddle Brook, New Jersey
Property taxes in Saddle Brook, NJ, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saddle Brook is 2.40%, significantly higher than the U.S. national median of 0.99%. Local government entities within Saddle Brook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saddle Brook 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 Saddle Brook's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 07663 has the highest median property tax rate of 2.40%, while the same zip code also has the lowest median tax rate of 2.40%. Understanding how these areas compare with Saddle Brook 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 Saddle Brook Tax Rate
2.40%
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 Saddle Brook, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07663 | 2.40% | 2.40% | 2.40% | 2.40% | 2.40% |
Source: Ownwell
Property Tax Assessment Values Across Saddle Brook, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Saddle Brook, NJ. 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 Assessor 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. Assessment notices in Saddle Brook 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. With a median home price of $388,700, homeowners can expect tax bills ranging from $8,297 at the 25th percentile to $12,823 at the 90th percentile. The zip code 07663 has both the highest and lowest median tax bill, standing at $9,335. Understanding these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Saddle Brook, New Jersey
Source: Ownwell
$172,100
$10,136,050
$20,100,000
Average Saddle Brook Assessed Value
$388,700
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 Saddle Brook, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07663 | $311,610 | $345,650 | $388,700 | $452,050 | $533,860 |
Source: Ownwell
Property Tax Bills Across Saddle Brook, New Jersey
In Saddle Brook, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Saddle Brook, the median home price stands at $388,700. The property tax rate in this area results in a tax bill that can vary significantly, with the 25th percentile tax bill at $8,297 and the 75th percentile reaching $10,855. At the 90th percentile, homeowners may see tax bills as high as $12,823. These property taxes fund essential public services like schools, police, and infrastructure, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Saddle Brook's property taxes are notably higher, reflecting the region's emphasis on well-funded public services. This can be a significant factor for homeowners when considering the overall cost of living in the area.
Average Saddle Brook Tax Bill
$9,335
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 Saddle Brook, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07663 | $7,465 | $8,297 | $9,335 | $10,855 | $12,823 |
Source: Ownwell