Ringwood, Passaic County, New Jersey Property Taxes

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

Median Ringwood, NJ effective property tax rate: 3.97%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Ringwood, NJ home value: $282,700
Median annual Ringwood, NJ tax bill: $11,023, $8,623 higher than the national median property tax bill of $2,400.

How are property taxes in Passaic calculated?

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

Last Updated March 1, 2025

Ringwood, Passaic County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.97%

Estimate Property Tax Bill

$11,223

$10,415

Ownwell’s Ringwood Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Ringwood with just two data points. By entering your property's estimated assessed value, our calculator applies Ringwood’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 County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Ringwood, Passaic 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. In Ringwood, located in Passaic County, New Jersey, property taxes are notably higher than both state and national averages. New Jersey's median property tax rate is significantly above the national median rate of 1.02%, and Ringwood's rate is a prime example of this trend. Homeowners in this area face a substantial property tax burden compared to other regions. This is primarily due to the local government's need to fund public services such as schools, roads, and emergency services. By understanding these factors, homeowners can better navigate the complexities of property taxes and explore potential savings through appeals or exemptions. Below, you can compare Ringwood’s effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S.

Property Tax Rates Across Ringwood, 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 Ringwood Tax Rate

3.97%

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 Ringwood, Passaic County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07456	3.63%	3.94%	3.96%	3.97%	3.97%

Source: Ownwell

Property Tax Assessment Values Across Ringwood, Passaic County, New Jersey

When examining property taxes in Ringwood, 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 Tax Assessor 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.

Assessment notices: 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 Ringwood. For example, the median home price in Ringwood is $282,700, with tax bills ranging significantly across the county. The 07456 zip code has the highest median home price at $282,700.

Property Tax Assessment Values Across Ringwood, Passaic County, New Jersey

Source: Ownwell

$89,900

$237,000

$384,100

Median Ringwood Market Value

$282,700

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 Ringwood, Passaic County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07456	$205,750	$243,300	$282,700	$341,000	$425,400

Source: Ownwell

Property Tax Bills Across Ringwood, Passaic County, New Jersey

In Ringwood, located in Passaic County, NJ, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the annual tax bill. With a median home price of $282,700, homeowners in Ringwood face significantly higher property tax bills compared to the national median. The 25th percentile tax bill is $9,401, while the 75th percentile reaches $13,416, and the 90th percentile climbs to $16,758. This discrepancy is notable given the national median property tax bill of $2,400. Such high tax bills can place a substantial financial burden on homeowners.

Ownwell offers valuable services to help homeowners in Ringwood reduce their property tax bills. By providing expert property tax appeal and exemption services, Ownwell assists in ensuring that homeowners are not overpaying due to inaccurate assessments. This can lead to significant savings, easing the financial strain and ensuring a fair tax burden based on an accurate property valuation.

Property Tax Bills Across Ringwood, Passaic County, New Jersey

Source: Ownwell

$3,830

$9,088

$14,346

Median Ringwood Tax Bill

$11,023

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 Ringwood, Passaic County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07456	$7,966	$9,401	$11,023	$13,416	$16,758

Source: Ownwell