Woodland Park, Passaic County, New Jersey Property Taxes
Median Woodland Park, NJ effective property tax rate: 3.29%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Woodland Park, NJ home value: $319,600
Median annual Woodland Park, NJ tax bill: $10,132, $7,732 higher than the national median property tax bill of $2,400.
How are property taxes in Passaic calculated?
Property taxes in Woodland Park, NJ are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Woodland Park’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Woodland Park, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Woodland Park, Passaic County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.29%
Estimate Property Tax Bill
$10,515
$9,757
Property Tax Rates Across Woodland Park, Passaic County, New Jersey
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Woodland Park Tax Rate
3.29%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Passaic County Tax Rate
4.57%
Median Effective New Jersey Tax Rate
2.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Woodland Park, Passaic County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07424 | 2.69% | 3.25% | 3.29% | 3.29% | 3.29% |
Source: Ownwell
Property Tax Assessment Values Across Woodland Park, Passaic County, New Jersey
When examining property taxes in Woodland Park, NJ, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Passaic County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Passaic County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Woodland Park. For example, the median home price in Woodland Park is $319,600, with tax bills ranging significantly across the county. Zip code 07424 has the highest median home price at $319,600.
Property Tax Assessment Values Across Woodland Park, Passaic County, New Jersey
Source: Ownwell
$89,900
$237,000
$384,100
Median Woodland Park Market Value
$319,600
Median Passaic County Market Value
$226,800
Median New Jersey Market Value
$282,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across Woodland Park, Passaic County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07424 | $219,640 | $266,550 | $319,600 | $399,850 | $479,700 |
Source: Ownwell
Property Tax Bills Across Woodland Park, Passaic County, New Jersey
In Woodland Park, NJ, property tax bills are determined by the assessed value of a home and the local tax rate set by Passaic County. The median home price in the area is $319,600, which influences the assessed value and, consequently, the tax bill. Homeowners in Woodland Park face a median property tax bill of $10,132, significantly higher than the national median of $2,400. This substantial amount is due to the local tax rate and the assessed property values.
Factors such as property location, size, and improvements can affect the assessed value, leading to varying tax bills. For instance, tax bills range from $8,323 at the 25th percentile to $15,637 at the 90th percentile. This variation highlights the importance of ensuring an accurate assessment.
Ownwell helps homeowners in Woodland Park by offering property tax appeal and exemption services. By reviewing assessments and identifying discrepancies, Ownwell can help reduce tax liabilities, potentially saving homeowners a significant amount on their property tax bills.
Property Tax Bills Across Woodland Park, Passaic County, New Jersey
Source: Ownwell
$3,830
$9,088
$14,346
Median Woodland Park Tax Bill
$10,132
Median Passaic County Tax Bill
$9,911
Median New Jersey Tax Bill
$8,227
Median United States Tax Bill
$2,400
Property Tax Bills Across Woodland Park, Passaic County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07424 | $6,796 | $8,323 | $10,132 | $12,720 | $15,637 |
Source: Ownwell