River Vale, Bergen County, New Jersey Property Taxes
Median River Vale, NJ effective property tax rate: 2.65%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median River Vale, NJ home value: $587,250
Median annual River Vale, NJ tax bill: $15,516, $13,116 higher than the national median property tax bill of $2,400.
How are property taxes in Bergen calculated?
Property taxes in River Vale, 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 River Vale’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in River Vale, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
River Vale, Bergen County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.65%
Estimate Property Tax Bill
$15,562
$14,441
Property Tax Rates Across River Vale, Bergen County, New Jersey
Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare River Vale’s effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S. River Vale, located in Bergen County, stands out with a median property tax rate of 2.65%, which is significantly higher than the national median of 1.02%. This means homeowners in River Vale are paying more than double the national average. However, this rate is consistent with the state's trend, as New Jersey is known for having some of the highest property taxes in the country. Understanding these differences can be crucial for homeowners looking to manage their property tax expenses effectively.
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 River Vale Tax Rate
2.65%
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 Bergen County Tax Rate
2.73%
Median Effective New Jersey Tax Rate
2.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across River Vale, Bergen County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07675 | 2.64% | 2.65% | 2.65% | 2.65% | 2.65% |
Source: Ownwell
Property Tax Assessment Values Across River Vale, Bergen County, New Jersey
When examining property taxes in River Vale, 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 Bergen 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 Bergen 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 River Vale. For example, the median home price in River Vale is $587,250, with tax bills ranging significantly across the county. Zip code 07675 has the highest median home price at $587,250.
Property Tax Assessment Values Across River Vale, Bergen County, New Jersey
Source: Ownwell
$256,600
$1,236,600
$2,216,600
Median River Vale Market Value
$587,250
Median Bergen County Market Value
$421,800
Median New Jersey Market Value
$282,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across River Vale, Bergen County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07675 | $375,910 | $469,375 | $587,250 | $700,675 | $830,860 |
Source: Ownwell
Property Tax Bills Across River Vale, Bergen County, New Jersey
In River Vale, NJ, property tax bills are determined by the assessed value of a home in relation to the local tax rate set by Bergen County. With a median home price of $587,250, homeowners typically face a tax bill significantly higher than the national median, with the 25th percentile starting at $12,418 and reaching up to $21,795 at the 90th percentile. This is largely due to the area's high property values and tax rates, which can be burdensome for homeowners. The tax bill is influenced by factors such as property size, location, and improvements, which are considered during the assessment process.
Ownwell provides essential services to help homeowners in River Vale reduce their property tax bills. By leveraging expertise in property tax appeals, Ownwell ensures that homeowners are not overpaying due to inaccurate assessments. The process involves a thorough analysis of comparable properties and market trends to contest and potentially lower the assessed value, thus decreasing the tax burden. This can lead to substantial savings, making homeownership more affordable.
Median River Vale Tax Bill
$15,516
Median Bergen County Tax Bill
$11,253
Median New Jersey Tax Bill
$8,227
Median United States Tax Bill
$2,400
Property Tax Bills Across River Vale, Bergen County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07675 | $9,924 | $12,418 | $15,516 | $18,515 | $21,795 |
Source: Ownwell