North Haledon, New Jersey Property Taxes
The median property tax rate in North Haledon, NJ is 2.94%, 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 North Haledon at $352,500, the typical annual property tax bill reaches $10,190, exceeding the national median of $2,690. Property taxes in North 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 North 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 North 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
North Haledon, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.94%
Estimate Property Tax Bill
$10,364
$9,617
Ownwell’s North Haledon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Haledon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North 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 North Haledon, New Jersey
Property taxes in North Haledon, New Jersey, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in North Haledon is 2.94%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within North Haledon set these rates annually, and they can vary significantly across different neighborhoods. Each year, North 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 North Haledon's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 07508 ZIP code has the highest median property tax rate of 2.94%, while the same ZIP code also has the lowest median tax rate of 2.94%. Understanding how these cities compare with North 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 North Haledon Tax Rate
2.94%
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 North Haledon, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07508 | 2.65% | 2.91% | 2.94% | 2.94% | 2.94% |
Source: Ownwell
Property Tax Assessment Values Across North Haledon, New Jersey
In North 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. In North Haledon, 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 North Haledon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in North Haledon is $10,190 in zip code 07508, which is also the lowest median tax bill.
Property Tax Assessment Values Across North Haledon, New Jersey
Source: Ownwell
$89,900
$297,200
$504,500
Average North Haledon Assessed Value
$352,500
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 North Haledon, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07508 | $256,360 | $297,500 | $352,500 | $428,700 | $539,380 |
Source: Ownwell
Property Tax Bills Across North Haledon, New Jersey
In North Haledon, Passaic County, 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. Several factors influence the final tax bill, including property size, location, and any improvements made to the property. For example, the median home price in North Haledon is $352,500, leading to a range of annual tax bills. Homeowners in the 25th percentile can expect to pay around $8,488, while those in the 75th percentile might see bills as high as $12,459. At the 90th percentile, tax bills can reach up to $15,761. These tax rates significantly impact homeowners, often making property taxes one of the largest annual expenses. When compared to the national median property tax rate of 0.99%, North Haledon's rates can be considerably higher, reflecting the area's property values and local government funding needs.
Average North Haledon Tax Bill
$10,190
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 North Haledon, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07508 | $7,264 | $8,488 | $10,190 | $12,459 | $15,761 |
Source: Ownwell