Plainfield, New Jersey Property Taxes
The median property tax rate in Plainfield, NJ is 2.25%, 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 Plainfield, the typical annual property tax bill reaches $2,843, slightly exceeding the national median of $2,690. Property taxes in Plainfield 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 Plainfield'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 Plainfield 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
Plainfield, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.25%
Estimate Property Tax Bill
$2,801
$2,599
Ownwell’s Plainfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Plainfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plainfield 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 Plainfield, New Jersey
Property taxes in Plainfield, New Jersey, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plainfield is 2.25%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Plainfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plainfield 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 Plainfield's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 07063 zip code has both the highest and lowest median property tax rate of 2.25%. Understanding how these areas compare with Plainfield 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 Plainfield Tax Rate
2.25%
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 Plainfield, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07063 | 2.24% | 2.25% | 2.25% | 2.25% | 4.86% |
Source: Ownwell
Property Tax Assessment Values Across Plainfield, New Jersey
In Plainfield, 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 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 Plainfield 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 Plainfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Plainfield is $2843.00 in the zip code 07063, while the lowest median tax bill is also $2843.00 in the same zip code.
Average Plainfield Assessed Value
$124,500
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 Plainfield, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07063 | $43,980 | $86,100 | $124,500 | $126,300 | $130,380 |
Source: Ownwell
Property Tax Bills Across Plainfield, New Jersey
In Plainfield, 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. Homeowners in Plainfield, located in Middlesex County, can expect varying tax bills depending on their property’s assessed value and the specific tax rate applied. Several factors influence the final tax bill, including the property's location, size, and condition. In Plainfield, the median home price is $124,500, and tax bills can range significantly. For instance, the 25th percentile tax bill is around $1,924, while the 75th percentile tax bill reaches $2,996. At the 90th percentile, homeowners may face tax bills as high as $6,125. These tax bills directly impact homeowners by influencing their annual housing costs. Compared to the national median property tax rate of 0.99%, Plainfield's rates reflect the broader tax environment of New Jersey, which can be higher than the national average. This makes understanding local tax calculations crucial for homeowners in managing their expenses.
Average Plainfield Tax Bill
$2,843
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 Plainfield, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07063 | $984 | $1,924 | $2,843 | $2,996 | $6,125 |
Source: Ownwell