Irvington, Essex County, New Jersey Property Taxes
The median property tax rate in Irvington, NJ is 5.96%, significantly higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With a median home value of $139,900 in Irvington, the typical annual property tax bill reaches $8,310, far exceeding the national median of $2,690. Property taxes in Irvington are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Irvington'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 Irvington 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
Irvington, Essex County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
5.96%
Estimate Property Tax Bill
$8,338
$7,737
Ownwell’s Irvington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Irvington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Irvington 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 Irvington, Essex County, New Jersey
Property taxes in Irvington, New Jersey, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Irvington is 5.96%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Irvington set these rates annually, and they can vary across different neighborhoods. Each year, Irvington 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 Irvington's effective property tax rate to other areas in Essex County and the national median. For comparison, the zip code 07111 has the highest and lowest median property tax rate of 5.96%. Understanding how these areas compare with Irvington provides valuable insights into the varying tax landscape across Essex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Irvington Tax Rate
5.96%
Average Essex County Tax Rate
3.51%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Irvington, Essex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07111 | 5.96% | 5.96% | 5.96% | 5.96% | 5.96% |
Source: Ownwell
Property Tax Assessment Values Across Irvington, Essex County, New Jersey
In Irvington, 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 Essex 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. Assessment notices in Irvington 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 Irvington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Irvington is $139,900, with the highest median tax bill recorded at $8,310 in the 07111 zip code.
Property Tax Assessment Values Across Irvington, Essex County, New Jersey
Source: Ownwell
$139,900
$749,150
$1,358,400
Average Irvington Assessed Value
$139,900
Average Essex County Assessed Value
$335,900
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Irvington, Essex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07111 | $90,500 | $115,400 | $139,900 | $173,500 | $214,900 |
Source: Ownwell
Property Tax Bills Across Irvington, Essex County, New Jersey
In Irvington, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the Essex County tax assessor and is meant to reflect the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the property's size, location, and condition. Homeowners in Irvington experience significant property tax bills, with the median home price at $139,900. The 25th percentile tax bill is $6,849, while the 75th percentile reaches $10,295, and the 90th percentile can be as high as $12,649. These figures highlight the substantial financial impact on homeowners, especially when compared to the national median property tax rate of 0.99%. Understanding these calculations helps homeowners anticipate their annual tax obligations and plan their finances accordingly. The highest and lowest median tax bills in Irvington both stand at $8,310, illustrating a consistent tax burden across the area.
Average Irvington Tax Bill
$8,310
Average Essex County Tax Bill
$11,297
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Irvington, Essex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07111 | $5,329 | $6,849 | $8,310 | $10,295 | $12,649 |
Source: Ownwell