Teterboro, Bergen County, New Jersey Property Taxes

Name: Property Tax Bills Across Teterboro, Bergen County, New Jersey
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Teterboro, NJ effective property tax rate: 1.15%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median Teterboro, NJ home value: $383,350
Median annual Teterboro, NJ tax bill: $4,393, $1,993 higher than the national median property tax bill of $2,400.

How are property taxes in Bergen County calculated?

Property taxes in Teterboro, 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 Teterboro’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Teterboro, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Teterboro, Bergen County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.15%

Estimate Property Tax Bill

$4,409

$4,091

Ownwell’s Teterboro Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Teterboro with just two data points. By entering your property's estimated assessed value, our calculator applies Teterboro’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Bergen County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Teterboro, Bergen County, New Jersey

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Teterboro’s effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S. Teterboro, located in Bergen County, has an effective property tax rate that matches the highest median rate in the state, standing at 1.15%. This rate is above the national median property tax rate of 1.02%. Such a rate can significantly impact homeowners, especially when compared to the national median property tax bill of $2,400. Understanding these rates can help property owners in Teterboro make informed decisions about property tax appeals and exemptions.

Property Tax Rates Across Teterboro, Bergen County, New Jersey

Source: Ownwell

0.74%

2.48%

4.23%

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 Teterboro Tax Rate

1.15%

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 Teterboro, Bergen County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07608	1.15%	1.15%	1.15%	1.15%	1.15%

Source: Ownwell

Property Tax Assessment Values Across Teterboro, Bergen County, New Jersey

When examining property taxes in Teterboro, 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 tax authorities estimate 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.

In Bergen County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Teterboro. For example, the median home price in Teterboro is $383,350, with tax bills ranging significantly across the county. Zip code 07608 has the highest median home price at $383,350.

Property Tax Assessment Values Across Teterboro, Bergen County, New Jersey

Source: Ownwell

$256,600

$1,236,600

$2,216,600

Median Teterboro Market Value

$383,350

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 Teterboro, Bergen County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07608	$205,060	$207,100	$383,350	$794,625	$1,048,070

Source: Ownwell

Property Tax Bills Across Teterboro, Bergen County, New Jersey

In Teterboro, Bergen County, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessment considers factors like the property's market value, location, and any improvements made. The tax rate is applied to this assessed value to determine the annual property tax bill. Homeowners in Teterboro face a median property tax bill of $4,393, significantly higher than the national median of $2,400. This can place a substantial financial burden on homeowners, especially those with tax bills in the 75th percentile at $11,196 or even the 90th percentile at $12,312.

Ownwell offers a solution by providing expert property tax appeal services, potentially reducing the assessed value and, consequently, the tax bill. Our team of experienced consultants works diligently to ensure homeowners are not overpaying on their property taxes. By leveraging local market data and expertise, Ownwell can help homeowners achieve substantial savings, alleviating the financial strain of high property taxes.

Property Tax Bills Across Teterboro, Bergen County, New Jersey

Source: Ownwell

$4,393

$11,280

$18,167

Median Teterboro Tax Bill

$4,393

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 Teterboro, Bergen County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07608	$2,350	$2,373	$4,393	$11,196	$12,312

Source: Ownwell