Bloomfield, Essex County, New Jersey Property Taxes

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

Median Bloomfield, NJ effective property tax rate: 3.20%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Bloomfield, NJ home value: $359,000
Median annual Bloomfield, NJ tax bill: $11,468, $9,068 higher than the national median property tax bill of $2,400.

How are property taxes in Essex calculated?

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

Last Updated March 1, 2025

Bloomfield, Essex County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.2%

Estimate Property Tax Bill

$11,488

$10,661

Ownwell’s Bloomfield Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bloomfield with just two data points. By entering your property's estimated assessed value, our calculator applies Bloomfield’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 Essex County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Bloomfield, Essex County, New Jersey

Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.

In Bloomfield, located in Essex County, New Jersey, the effective property tax rate is significantly higher than the national median of 1.02%. This means that homeowners in Bloomfield pay a larger portion of their property's assessed value in taxes compared to many other parts of the country. The higher rate can be attributed to the local government's budgetary requirements and the value of taxable properties in the area.

Comparing Bloomfield's effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S. highlights the regional differences in property tax burdens. Understanding these differences can help homeowners make informed decisions about property ownership and tax appeals.

Property Tax Rates Across Bloomfield, Essex County, New Jersey

Source: Ownwell

1.94%

3.95%

5.96%

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 Bloomfield Tax Rate

3.20%

Median Effective Essex County Tax Rate

3.51%

Median Effective New Jersey Tax Rate

2.82%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Bloomfield, Essex County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07003	3.20%	3.20%	3.20%	3.20%	3.20%

Source: Ownwell

Property Tax Assessment Values Across Bloomfield, Essex County, New Jersey

When examining property taxes in Bloomfield, 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 Essex 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 Essex County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Bloomfield. For example, the median home price in Bloomfield is $359,000, with tax bills ranging significantly across the county. ZIP code 07003 has the highest median home price at $359,000.

Property Tax Assessment Values Across Bloomfield, Essex County, New Jersey

Source: Ownwell

$139,900

$749,150

$1,358,400

Median Bloomfield Market Value

$359,000

Median Essex County Market Value

$335,900

Median New Jersey Market Value

$282,900

Median United States Market Value

$235,294

Property Tax Assessment Values Across Bloomfield, Essex County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07003	$218,300	$302,100	$359,000	$416,900	$472,600

Source: Ownwell

Property Tax Bills Across Bloomfield, Essex County, New Jersey

In Bloomfield, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. With a median home price of $359,000, homeowners in Bloomfield face significantly higher property tax bills compared to the national median of $2,400. The median tax bill in Bloomfield is $11,468, with the 25th percentile at $9,667 and the 75th percentile reaching $13,324. Several factors influence these tax bills, including the property's assessed value, local government budgets, and public service funding needs. These high costs can place a considerable financial burden on homeowners, making it essential to explore ways to reduce tax liabilities.

Ownwell can assist Bloomfield homeowners in appealing their property tax assessments, potentially lowering their tax bills. By analyzing property data and market trends, Ownwell identifies opportunities for tax savings. This professional guidance can help homeowners navigate the complex tax appeal process, ensuring they only pay their fair share. Partnering with Ownwell can lead to significant savings, offering financial relief in a region with some of the highest property tax burdens in the nation.

Property Tax Bills Across Bloomfield, Essex County, New Jersey

Source: Ownwell

$5,626

$17,613

$29,600

Median Bloomfield Tax Bill

$11,468

Median Essex County Tax Bill

$11,297

Median New Jersey Tax Bill

$8,227

Median United States Tax Bill

$2,400

Property Tax Bills Across Bloomfield, Essex County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07003	$6,993	$9,667	$11,468	$13,324	$15,065

Source: Ownwell