Annandale, New Jersey Property Taxes
The median property tax rate in Annandale, NJ is 2.81%, 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 Annandale, the typical annual property tax bill reaches $10,595, exceeding the national median of $2,690. Property taxes in Annandale 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 Annandale'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 Annandale 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
Annandale, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.81%
Estimate Property Tax Bill
$10,598
$9,835
Ownwell’s Annandale Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Annandale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Annandale to provide an accurate estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities and make informed decisions. For those interested in more granular insights, scroll down to explore neighborhood-level trends. Your property’s assessed value, determined by the county, is crucial for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Annandale, New Jersey
Property taxes in Annandale, New Jersey, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Annandale is 2.81%, significantly higher than the U.S. national median of 0.99%. Local government entities within Annandale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Annandale 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 Annandale's effective property tax rate to other areas and the national median. For comparison, the zip code 08801 has the highest median property tax rate of 2.81%, while the same zip code also has the lowest median tax rate of 2.81%. Understanding how these cities compare with Annandale provides valuable insights into the varying tax landscape across Hunterdon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Annandale Tax Rate
2.81%
Average Hunterdon County Tax Rate
2.66%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Annandale, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08801 | 2.81% | 2.81% | 2.81% | 2.81% | 2.81% |
Source: Ownwell
Property Tax Assessment Values Across Annandale, New Jersey
In Annandale, 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 Hunterdon 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 Annandale, 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 Annandale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 08801, amounting to $10,595, while the lowest median tax bill is also $10,595 in the same zip code.
Average Annandale Assessed Value
$377,150
Average Hunterdon County Assessed Value
$364,050
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Annandale, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08801 | $174,090 | $261,375 | $377,150 | $479,700 | $576,940 |
Source: Ownwell
Property Tax Bills Across Annandale, New Jersey
In Annandale, 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 local 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 determine the annual tax bill. In Hunterdon County, where Annandale is located, the median home price is $377,150. Homeowners in Annandale can expect to pay between $7,342 and $16,202 in property taxes, depending on the assessed value of their home. The median tax bill in the area is notably higher than the national median property tax rate of 0.99%, reflecting the region's higher property values and tax rates. For homeowners, this means that property taxes can significantly impact their annual expenses, making it crucial to understand how these taxes are calculated and to ensure their property is accurately assessed.
Average Annandale Tax Bill
$10,595
Average Hunterdon County Tax Bill
$10,015
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Annandale, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08801 | $4,953 | $7,342 | $10,595 | $13,481 | $16,202 |
Source: Ownwell