Upper Saddle River, New Jersey Property Taxes
The median property tax rate in UPPER SADDLE RIVER, NJ is 2.47%, 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 UPPER SADDLE RIVER being $675,600, the typical annual property tax bill reaches $16,708, far exceeding the national median of $2,690. Property taxes in UPPER SADDLE RIVER 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 UPPER SADDLE RIVER'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 UPPER SADDLE RIVER 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
Upper Saddle River, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.47%
Estimate Property Tax Bill
$16,687
$15,485
Ownwell’s UPPER SADDLE RIVER Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in UPPER SADDLE RIVER with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in UPPER SADDLE RIVER 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 Upper Saddle River, New Jersey
Property taxes in Upper Saddle River, NJ, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Upper Saddle River is 2.47%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Upper Saddle River set these rates annually, and they can vary significantly across different neighborhoods. Each year, Upper Saddle River 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 Upper Saddle River's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 07458 has the highest median property tax rate of 2.47%, while the same zip code also has the lowest median tax rate of 2.47%. Understanding how these cities compare with Upper Saddle River 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 Upper Saddle River Tax Rate
2.47%
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 Upper Saddle River, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07458 | 2.47% | 2.47% | 2.47% | 2.47% | 2.47% |
Source: Ownwell
Property Tax Assessment Values Across Upper Saddle River, New Jersey
In Upper Saddle River, 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 Upper Saddle River, 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 Upper Saddle River helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 07458 has both the highest and lowest median tax bill, standing at $16,708.
Property Tax Assessment Values Across Upper Saddle River, New Jersey
Source: Ownwell
$172,100
$10,136,050
$20,100,000
Average Upper Saddle River Assessed Value
$675,600
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 Upper Saddle River, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07458 | $478,180 | $559,500 | $675,600 | $901,900 | $1,250,000 |
Source: Ownwell
Property Tax Bills Across Upper Saddle River, New Jersey
In Upper Saddle River, Bergen County, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $675,600, which significantly influences the tax bill. Homeowners in Upper Saddle River can expect to pay a median property tax bill of $16,708 annually, which is considerably higher than the national median property tax rate of 0.99%. Several factors contribute to the tax bill, including the assessed value of the property, local government budgets, and the specific tax rate applied by the municipality. For example, homeowners in the 25th percentile pay around $13,765, while those in the 75th percentile face bills of approximately $22,304. At the 90th percentile, tax bills can soar to $30,912. These high property taxes can significantly impact homeowners, influencing their overall cost of living and potentially affecting real estate market dynamics in the area.
Average Upper Saddle River Tax Bill
$16,708
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 Upper Saddle River, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07458 | $11,621 | $13,765 | $16,708 | $22,304 | $30,912 |
Source: Ownwell