Property Taxes in Wanaque, New Jersey
Median Wanaque, New Jersey effective property tax rate: 4.23%, significantly higher than the national median of 1.02%, and higher than the New Jersey state median of 2.88%.
Median Wanaque, New Jersey home value: $258,750
Median annual Wanaque, New Jersey tax bill: $10,901, higher than the national median property tax bill of $2,400.
How are property taxes in Passaic calculated?
Property taxes in Wanaque, New Jersey 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 Wanaque's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Wanaque, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Wanaque Property Tax Calculator Work?
Use this Wanaque property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Wanaque's median effective tax rate of 4.23% — based on actual property records in Passaic County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Wanaque's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Wanaque: rates range from 4.23% in 07465 to 4.23% in 07465, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Wanaque.
About Wanaque Property Taxes
About Property Taxes in Wanaque, Passaic, New Jersey
Wanaque's median effective property tax rate of 4.23% is higher than the New Jersey state median of 2.88% and higher than the national median of 1.02%. This rate reflects the Passaic County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Wanaque. Homeowners in the 07465 ZIP code carry a median effective rate of 4.23%, while those in the lowest ZIP code pay 4.23%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Passaic County. Understanding which part of Wanaque you live in can make a meaningful difference to your annual tax bill.
Wanaque homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the April 1, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Wanaque, Passaic County, New Jersey
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because 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 Wanaque's effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S.
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 Wanaque Tax Rate
4.23%
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
4.90%
Median Effective New Jersey Tax Rate
2.88%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Wanaque, Passaic County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07465 | 4.23% | 4.23% | 4.23% | 4.23% | 4.23% |
Source: Ownwell
Property Tax Assessment Values Across Wanaque, Passaic County, New Jersey
When examining property taxes in Wanaque, New Jersey, 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 February each year. They'll typically reach your mailbox by the middle of February.
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. For example, the median home price in Wanaque is $258,750, with tax bills ranging significantly across the county. ZIP code 07465 has the highest median home price at $258,750.
Property Tax Assessment Values Across Wanaque, Passaic County, New Jersey
Source: Ownwell
$158,100
$271,100
$384,100
Median Wanaque Market Value
$258,750
Median Passaic County Market Value
$228,800
Median New Jersey Market Value
$288,200
Median United States Market Value
$274,101
Property Tax Assessment Values Across Wanaque, Passaic County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07465 | $8,500 | $207,025 | $258,750 | $287,525 | $341,490 |
Source: Ownwell
Property Tax Bills Across Wanaque, Passaic County, New Jersey
Property tax bills in Wanaque are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property. The assessed value is then used to determine how much a homeowner owes each year, with the final bill reflecting local tax rates and any changes in valuation.
For homeowners, this means that even if the home itself does not change, the tax bill can still rise when assessed values increase or local budgets shift. In Wanaque, the median home price is $258,750, and the median property tax bill is $10,901, which is well above the national median property tax bill of $2,400. Bills in the area also vary widely, with the 25th percentile at $8,695 and the 75th percentile at $12,098. That range shows how strongly property taxes can affect household costs.
Median Wanaque Tax Bill
$10,901
Median Passaic County Tax Bill
$10,419
Median New Jersey Tax Bill
$8,638
Median United States Tax Bill
$3,209
Property Tax Bills Across Wanaque, Passaic County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07465 | $359 | $8,695 | $10,901 | $12,098 | $14,259 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 1 |
Links | |
|---|---|
| Passaic Tax Assessor | |
| Website | www.taxdatahub.com |