Weehawken, New Jersey Property Taxes
The median property tax rate in Weehawken, NJ is 1.86%, 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 Weehawken at $698,300, the typical annual property tax bill reaches $12,942, far exceeding the national median of $2,690. Property taxes in Weehawken 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 Weehawken'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 Weehawken 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
Weehawken, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.86%
Estimate Property Tax Bill
$12,988
Ownwell’s Weehawken Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Weehawken with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Weehawken to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by Hudson County for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Weehawken, New Jersey
Property taxes in Weehawken, New Jersey, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Weehawken is 1.86%, significantly higher than the U.S. national median of 0.99%. Local government entities within Weehawken set these rates annually, and they can vary significantly across different neighborhoods. Each year, Weehawken 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 Weehawken's effective property tax rate to other areas in Hudson County and the national median. For comparison, the 07086 zip code has the highest median property tax rate of 1.86%, while the same zip code also has the lowest median tax rate of 1.86%. Understanding how these figures compare with Weehawken provides valuable insights into the varying tax landscape across Hudson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Weehawken Tax Rate
1.86%
Average Hudson County Tax Rate
2.12%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Weehawken, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07086 | 1.86% | 1.86% | 1.86% | 1.86% | 1.86% |
Source: Ownwell
Property Tax Assessment Values Across Weehawken, New Jersey
In Weehawken, 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 Hudson 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 Weehawken 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. The median home price in Weehawken is $698,300, with the 25th percentile tax bill at $8,201 and the 75th percentile tax bill at $17,014. The highest and lowest median tax bills are both $12,942 in the 07086 zip code. Being aware of these valuation processes in Weehawken helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Weehawken Assessed Value
$698,300
Average Hudson County Assessed Value
$357,200
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Weehawken, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07086 | $238,350 | $444,175 | $698,300 | $918,175 | $1,400,000 |
Source: Ownwell
Property Tax Bills Across Weehawken, New Jersey
In Weehawken, 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 Hudson County tax assessor and reflects the market value of the property. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For instance, with a median home price of $698,300, homeowners in Weehawken can expect to see significant property tax bills. The 25th percentile tax bill is $8,201, while the 75th percentile reaches $17,014, and the 90th percentile can be as high as $25,817. This variation highlights how property values and local tax rates impact individual tax bills. The median property tax bill in Weehawken is $12,942, which is notably higher than the national median property tax rate of 0.99%. This substantial tax burden can affect homeowners by increasing their annual housing costs, making it essential for them to understand how these taxes are calculated and budget accordingly.
Average Weehawken Tax Bill
$12,942
Average Hudson County Tax Bill
$8,581
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Weehawken, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07086 | $4,175 | $8,201 | $12,942 | $17,014 | $25,817 |
Source: Ownwell