Haledon, New Jersey Property Taxes
The median property tax rate in Haledon, NJ is 5.04%, 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 Haledon at $225,100, the typical annual property tax bill reaches $11,234, far exceeding the national median of $2,690. Property taxes in Haledon 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 Haledon'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 Haledon 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
Haledon, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
5.04%
Estimate Property Tax Bill
$11,345
$10,528
Ownwell’s Haledon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Haledon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Haledon 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 Haledon, New Jersey
Property taxes in Haledon, New Jersey, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Haledon is 5.04%, significantly higher than the U.S. national median of 0.99%. Local government entities within Haledon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Haledon 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 Haledon's effective property tax rate to other areas in Passaic County and the national median. For comparison, the zip code 07508 has the highest median property tax rate of 5.04%, while the same zip code also has the lowest median tax rate of 5.04%. Understanding how these figures compare with Haledon provides valuable insights into the varying tax landscape across Passaic County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Haledon Tax Rate
5.04%
Average Passaic County Tax Rate
4.57%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Haledon, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07508 | 4.91% | 5.04% | 5.04% | 5.04% | 5.04% |
Source: Ownwell
Property Tax Assessment Values Across Haledon, New Jersey
In Haledon, 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 Passaic 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 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 Haledon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Haledon are both $11,234, found in the 07508 zip code.
Average Haledon Assessed Value
$225,100
Average Passaic County Assessed Value
$226,800
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Haledon, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07508 | $170,420 | $197,000 | $225,100 | $264,425 | $310,560 |
Source: Ownwell
Property Tax Bills Across Haledon, New Jersey
In Haledon, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Haledon is $225,100, and the property tax rate in Passaic County significantly impacts homeowners. To determine the tax bill, the assessed value of the property is multiplied by the local tax rate. For example, homeowners in the 25th percentile pay around $9,839, while those in the 75th percentile face bills up to $13,166. The 90th percentile sees even higher tax bills, reaching $15,124. Haledon's property tax rate is notably higher than the national median property tax rate of 0.99%, which can place a considerable financial burden on homeowners. The highest and lowest median tax bills in the area are both $11,234, indicating a consistent tax rate across different properties. These factors collectively influence the overall cost of homeownership in Haledon, affecting both current residents and potential buyers.
Average Haledon Tax Bill
$11,234
Average Passaic County Tax Bill
$9,911
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Haledon, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07508 | $8,452 | $9,839 | $11,234 | $13,166 | $15,124 |
Source: Ownwell