Elizabeth, Union County, New Jersey Property Taxes

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

Median Elizabeth, NJ effective property tax rate: 2.33%, significantly higher than the national median of 1.02%, and lower than the New Jersey state median of 2.88%.
Median Elizabeth, NJ home value: $455,400
Median annual Elizabeth, NJ tax bill: $10,718, which is $8,318 higher than the national median property tax bill of $2,400.

How are property taxes in Union calculated?

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

Last Updated March 1, 2025

Elizabeth, Union County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.33%

Estimate Property Tax Bill

$10,611

$9,847

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

Property Tax Rates Across Elizabeth, Union County, New Jersey

Local government entities set tax rates, which can vary widely within a state. This variation stems from the fact that each county annually estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the fundamental process followed each year. In Elizabeth, located in Union County, the effective property tax rate is notably higher than the national median of 1.02%. The median property tax rate in New Jersey is 2.33%, which is also above the national median. Within Elizabeth, the highest median tax rate is found in the 07208 zip code, while the lowest is in the 07201 zip code. Comparing Elizabeth’s rates to other cities in New Jersey and the U.S. highlights the significant variability in property tax rates across different regions.

Property Tax Rates Across Elizabeth, Union County, New Jersey

Source: Ownwell

1.99%

6.70%

11.42%

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 Elizabeth Tax Rate

2.33%

Median Effective Union County Tax Rate

6.67%

Median Effective New Jersey Tax Rate

2.88%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Elizabeth, Union County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07201	1.47%	1.83%	2.16%	2.44%	2.74%
07202	1.86%	2.09%	2.34%	2.61%	2.91%
07206	1.59%	1.88%	2.29%	2.62%	2.83%
07208	2.06%	2.24%	2.45%	2.67%	3.01%
07207	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Elizabeth, Union County, New Jersey

When examining property taxes in Elizabeth, 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 Union County Tax Assessor's Office 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 Union 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 Elizabeth. For example, the median home price in Elizabeth is $455,400, with tax bills ranging significantly across the county. Zip code 07206 has the highest median home price at $525,800.

Property Tax Assessment Values Across Elizabeth, Union County, New Jersey

Source: Ownwell

$22,050

$381,925

$741,800

Median Elizabeth Market Value

$455,400

Median Union County Market Value

$177,800

Median New Jersey Market Value

$288,200

Median United States Market Value

$235,294

Property Tax Assessment Values Across Elizabeth, Union County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07201	$263,370	$373,600	$469,400	$580,975	$681,530
07202	$260,140	$344,400	$443,700	$559,550	$656,920
07206	$378,000	$429,050	$525,800	$605,775	$616,300
07208	$276,800	$386,225	$455,350	$532,900	$630,210
07207	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Elizabeth, Union County, New Jersey

In Elizabeth, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by local tax authorities. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. With a median home price of $455,400, Elizabeth homeowners face significant property tax bills. For instance, the 25th percentile tax bill is $8,172, while the 75th percentile reaches $13,358, and the 90th percentile tops out at $15,715. These figures are notably higher than the national median property tax bill of $2,400, reflecting the substantial financial burden on local homeowners.

Homeowners in Elizabeth can benefit from appealing their property tax assessments, potentially lowering their tax bills. This is where we step in. By leveraging our expertise in property tax appeals and exemptions, we help homeowners navigate the complexities of the tax system and identify opportunities for savings. Our services aim to reduce the financial strain of high property taxes, offering homeowners a chance to save money and achieve greater financial stability.

Property Tax Bills Across Elizabeth, Union County, New Jersey

Source: Ownwell

$1,767

$9,003

$16,238

Median Elizabeth Tax Bill

$10,718

Median Union County Tax Bill

$10,725

Median New Jersey Tax Bill

$8,638

Median United States Tax Bill

$2,400

Property Tax Bills Across Elizabeth, Union County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07201	$4,935	$7,166	$10,215	$13,523	$15,841
07202	$5,940	$8,109	$10,435	$13,201	$16,029
07206	$7,424	$9,319	$11,409	$14,167	$15,574
07208	$6,977	$9,492	$11,315	$13,413	$15,401
07207	N/A	N/A	N/A	N/A	N/A

Source: Ownwell