North Caldwell, Essex County, New Jersey Property Taxes
Median North Caldwell, NJ effective property tax rate: 2.18%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median North Caldwell, NJ home value: $1,358,400
Median annual North Caldwell, NJ tax bill: $29,600, $27,200 higher than the national median property tax bill of $2,400.
How are property taxes in Essex calculated?
Property taxes in North Caldwell, 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 North Caldwell’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in North Caldwell, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
North Caldwell, Essex County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.18%
Estimate Property Tax Bill
$29,613
$27,480
Property Tax Rates Across North Caldwell, Essex County, New Jersey
Local government entities in New Jersey set property tax rates, and these can differ significantly across the state. This variation arises because each county, including Essex, estimates the budget needed to provide essential services annually. The county then divides this budget by the total assessed value of all taxable property within its jurisdiction, resulting in the property tax rate. While setting these rates involves votes and legislative processes, this is the core of the annual calculation.
In North Caldwell, located in Essex County, the effective property tax rate stands at 2.18%, which is significantly higher than the national median property tax rate of 1.02%. This substantial difference highlights the localized nature of property tax assessments and the influence of regional budgetary needs. Comparing North Caldwell's rate to other cities in New Jersey, as well as the state and national medians, underscores the importance of understanding how these rates are determined and the impact they have on property owners.
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 North Caldwell Tax Rate
2.18%
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 Essex County Tax Rate
3.51%
Median Effective New Jersey Tax Rate
2.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across North Caldwell, Essex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07006 | 2.18% | 2.18% | 2.18% | 2.18% | 2.18% |
Source: Ownwell
Property Tax Assessment Values Across North Caldwell, Essex County, New Jersey
When examining property taxes in North Caldwell, 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 Essex 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 Essex County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 North Caldwell.
For example, the median home price in North Caldwell is $1,358,400, with tax bills ranging significantly across the county. Zip code 07006 has the highest median home price at $1,358,400.
Property Tax Assessment Values Across North Caldwell, Essex County, New Jersey
Source: Ownwell
$139,900
$749,150
$1,358,400
Median North Caldwell Market Value
$1,358,400
Median Essex County Market Value
$335,900
Median New Jersey Market Value
$282,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across North Caldwell, Essex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07006 | $496,460 | $1,187,300 | $1,358,400 | $1,381,400 | $1,458,060 |
Source: Ownwell
Property Tax Bills Across North Caldwell, Essex County, New Jersey
In North Caldwell, Essex County, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. Unlike the national median property tax rate of 1.02%, New Jersey typically has higher rates, contributing to significant tax bills for homeowners. The median home price in North Caldwell is $1,358,400, with tax bills ranging from the 25th percentile at $25,871 to the 90th percentile at $31,771, reflecting one of the highest median tax bills in the nation. Factors influencing these bills include the assessed property value and local tax levies, which fund public services such as schools and infrastructure. This can impose a substantial financial burden on homeowners.
Ownwell offers valuable assistance by helping homeowners appeal their property tax assessments, potentially leading to significant savings. Through expert analysis and representation, Ownwell can identify discrepancies in property valuations and ensure that homeowners are not overpaying. This service is crucial in a high-tax state like New Jersey, where even a small reduction in the assessed value can lead to considerable savings on tax bills.
Property Tax Bills Across North Caldwell, Essex County, New Jersey
Source: Ownwell
$5,626
$17,613
$29,600
Median North Caldwell Tax Bill
$29,600
Median Essex County Tax Bill
$11,297
Median New Jersey Tax Bill
$8,227
Median United States Tax Bill
$2,400
Property Tax Bills Across North Caldwell, Essex County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07006 | $14,273 | $25,871 | $29,600 | $30,101 | $31,771 |
Source: Ownwell