Oak Ridge, Passaic County, New Jersey Property Taxes

Name: Property Tax Bills Across Oak Ridge, Passaic County, New Jersey
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median OAK RIDGE, NJ effective property tax rate: 3.99%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median OAK RIDGE, NJ home value: $253,800
Median annual OAK RIDGE, NJ tax bill: $9,949, $7,549 higher than the national median property tax bill of $2,400.

How are property taxes in Passaic calculated?

Property taxes in OAK RIDGE, 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 OAK RIDGE’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in OAK RIDGE, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Oak Ridge, Passaic County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.99%

Estimate Property Tax Bill

$10,127

$9,397

Ownwell’s OAK RIDGE Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in OAK RIDGE with just two data points. By entering your property's estimated assessed value, our calculator applies OAK RIDGE’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Passaic. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Oak Ridge, Passaic County, New Jersey

Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation occurs because each county annually 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 votes and laws play a role in setting tax rates and budgets, this is the basic annual process.

In Oak Ridge, Passaic County, New Jersey, the effective property tax rate is 3.99%, which is significantly higher than the national median property tax rate of 1.02%. This means that homeowners in Oak Ridge may face higher property tax bills compared to other regions. The median property tax bill in Oak Ridge is also higher than the national median of $2,400. This highlights the importance of understanding local tax rates and seeking potential exemptions or appeals to manage property tax expenses effectively. By staying informed and proactive, homeowners can navigate the complexities of property taxes and potentially reduce their financial burden.

Property Tax Rates Across Oak Ridge, Passaic County, New Jersey

Source: Ownwell

2.44%

4.07%

5.71%

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 Oak Ridge Tax Rate

3.99%

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 Oak Ridge, Passaic County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07438	3.25%	3.99%	3.99%	3.99%	3.99%

Source: Ownwell

Property Tax Assessment Values Across Oak Ridge, Passaic County, New Jersey

When examining property taxes in Oak Ridge, 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 Oak Ridge. For example, the median home price in Oak Ridge is $253,800, with tax bills ranging significantly across the county. 07438 has the highest median home price at $253,800.

Property Tax Assessment Values Across Oak Ridge, Passaic County, New Jersey

Source: Ownwell

$89,900

$237,000

$384,100

Median Oak Ridge Market Value

$253,800

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 Oak Ridge, Passaic County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07438	$196,260	$221,000	$253,800	$301,200	$355,020

Source: Ownwell

Property Tax Bills Across Oak Ridge, Passaic County, New Jersey

In OAK RIDGE, 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 assessor and reflects the market value of the property. The tax rate is set by local taxing authorities and is applied to the assessed value to calculate the annual tax bill. With a median home price of $253,800, OAK RIDGE homeowners face a significant property tax burden, with tax bills ranging from $8,469 at the 25th percentile to $14,056 at the 90th percentile. The median property tax bill here is notably higher than the national median of $2,400, reflecting New Jersey's overall higher property tax rates. This financial strain on homeowners highlights the importance of exploring ways to reduce property tax bills. Ownwell can assist homeowners by providing expert property tax appeal services, helping to ensure that properties are assessed fairly and accurately. By potentially lowering the assessed value, homeowners can achieve significant savings on their annual property tax bills.

Property Tax Bills Across Oak Ridge, Passaic County, New Jersey

Source: Ownwell

$3,830

$9,088

$14,346

Median Oak Ridge Tax Bill

$9,949

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 Oak Ridge, Passaic County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07438	$7,175	$8,469	$9,949	$11,827	$14,056

Source: Ownwell