Piscataway, New Jersey Property Taxes
The median property tax rate in Piscataway, NJ is 2.23%, 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 Piscataway at $351,050, the typical annual property tax bill reaches $7,490, exceeding the national median of $2,690. Property taxes in Piscataway 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 Piscataway'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 Piscataway 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
Piscataway, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.23%
Estimate Property Tax Bill
$7,828
Ownwell’s Piscataway Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Piscataway with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Piscataway 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 Piscataway, New Jersey
Property taxes in Piscataway, 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 Piscataway is 2.23%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Piscataway set these rates annually, and they can vary significantly across different neighborhoods. Each year, Piscataway 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 Piscataway's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08854 zip code has the highest median property tax rate of 2.23%, while the same zip code also has the lowest median tax rate of 2.23%. Understanding how these cities compare with Piscataway provides valuable insights into the varying tax landscape across Middlesex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Piscataway Tax Rate
2.23%
Average Middlesex County Tax Rate
5.10%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Piscataway, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08854 | 1.77% | 2.19% | 2.23% | 2.25% | 2.25% |
Source: Ownwell
Property Tax Assessment Values Across Piscataway, New Jersey
In Piscataway, 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 Middlesex County Tax Assessor 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 Piscataway, 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 Piscataway helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $351,050, with tax bills ranging from $6,215 at the 25th percentile to $11,292 at the 90th percentile. The highest and lowest median tax bills are both $7,490 in the 08854 zip code.
Average Piscataway Assessed Value
$351,050
Average Middlesex County Assessed Value
$158,000
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Piscataway, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08854 | $264,430 | $300,000 | $351,050 | $424,600 | $516,300 |
Source: Ownwell
Property Tax Bills Across Piscataway, New Jersey
In Piscataway, part of Middlesex County, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Piscataway is $351,050, and the property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including property size, location, and market conditions. Homeowners in Piscataway see a range of tax bills, with the 25th percentile paying around $6,215 and the 75th percentile paying up to $9,159 annually. The 90th percentile of homeowners face tax bills as high as $11,292. The median tax bill in Piscataway's 08854 zip code stands at $7,490, which is significantly higher than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community.
Average Piscataway Tax Bill
$7,490
Average Middlesex County Tax Bill
$7,840
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Piscataway, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08854 | $4,979 | $6,215 | $7,490 | $9,159 | $11,292 |
Source: Ownwell