Wood Ridge, Bergen County, New Jersey Property Taxes
Median Wood Ridge, NJ effective property tax rate: 2.80%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Wood Ridge, NJ home value: $358,600
Median annual Wood Ridge, NJ tax bill: $9,889, $7,489 higher than the national median property tax bill of $2,400.
How are property taxes in Bergen calculated?
Property taxes in Wood Ridge, 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 Wood Ridge’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Wood Ridge, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Wood Ridge, Bergen County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.8%
Estimate Property Tax Bill
$10,041
$9,318
Property Tax Rates Across Wood Ridge, Bergen County, New Jersey
Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation is due to the fact that each county annually estimates its required budget to provide essential services and divides that by the total assessed value of all taxable property within its jurisdiction. This calculation determines the property tax rate. Although the process involves votes and laws, this is essentially how it works each year.
Wood Ridge in Bergen County, New Jersey, has an effective property tax rate of 2.80%, which is considerably higher than the national median property tax rate of 1.02%. Such a high rate places a significant financial burden on homeowners compared to other parts of the country. Understanding these differences is crucial for homeowners considering property tax appeals or seeking exemptions. By comparing Wood Ridge's property tax rate to other cities in New Jersey and national figures, property owners can better comprehend their tax obligations and explore potential savings through appeals or exemptions.
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 Wood Ridge Tax Rate
2.80%
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 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 Wood Ridge, Bergen County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07075 | 2.52% | 2.79% | 2.79% | 2.80% | 2.80% |
Source: Ownwell
Property Tax Assessment Values Across Wood Ridge, Bergen County, New Jersey
When examining property taxes in WOOD RIDGE, 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 appraisal district estimates 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 WOOD RIDGE. For example, the median home price in WOOD RIDGE is $358,600, with tax bills ranging significantly across the county. 07075 has the highest median home price at $358,600.
Property Tax Assessment Values Across Wood Ridge, Bergen County, New Jersey
Source: Ownwell
$256,600
$1,236,600
$2,216,600
Median Wood Ridge Market Value
$358,600
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 Wood Ridge, Bergen County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07075 | $248,860 | $319,525 | $358,600 | $445,100 | $543,200 |
Source: Ownwell
Property Tax Bills Across Wood Ridge, Bergen County, New Jersey
In Wood Ridge, NJ, property tax bills are determined by the assessed value of a home and the local tax rate. With a median home price of $358,600, the tax rate in Bergen County results in a median tax bill of $9,889, significantly higher than the national median of $2,400. This discrepancy highlights the impact of local tax rates and home values on property taxes. Homeowners in Wood Ridge face tax bills ranging from $8,838 at the 25th percentile to $14,653 at the 90th percentile, reflecting the variation in property values and assessments.
Property taxes can be a substantial financial burden for homeowners. However, Ownwell offers a solution by helping homeowners appeal their property tax assessments and secure exemptions where applicable. By leveraging expert knowledge of local tax codes and market conditions, Ownwell can identify opportunities for reducing tax liabilities, potentially saving homeowners thousands of dollars. This service not only alleviates financial pressure but also ensures homeowners are paying a fair amount based on their property's true market value.
Median Wood Ridge Tax Bill
$9,889
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 Wood Ridge, Bergen County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07075 | $6,246 | $8,838 | $9,889 | $11,633 | $14,653 |
Source: Ownwell