Egg Harbor Township, New Jersey Property Taxes
The median property tax rate in Egg Harbor Township, NJ is 3.34%, considerably higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With the median home value in Egg Harbor Township at $201,350, the typical annual property tax bill reaches $6,707, exceeding the national median of $2,690. Property taxes in Egg Harbor Township are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Egg Harbor Township's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Egg Harbor Township or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Egg Harbor Township, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.34%
Estimate Property Tax Bill
$6,725
Ownwell’s Egg Harbor Township Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Egg Harbor Township with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Egg Harbor Township to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Egg Harbor Township, New Jersey
Property taxes in Egg Harbor Township, New Jersey, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Egg Harbor Township is 3.34%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Egg Harbor Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Egg Harbor Township estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Egg Harbor Township's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08234 ZIP code has the highest median property tax rate of 3.34%, while the same ZIP code also has the lowest median tax rate of 3.34%. Understanding how these cities compare with Egg Harbor Township provides valuable insights into the varying tax landscape across Atlantic County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Egg Harbor Township Tax Rate
3.34%
Average Atlantic County Tax Rate
3.23%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Egg Harbor Township, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08234 | 3.33% | 3.33% | 3.33% | 3.34% | 3.34% |
Source: Ownwell
Property Tax Assessment Values Across Egg Harbor Township, New Jersey
In Egg Harbor Township, New Jersey, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Atlantic County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Egg Harbor Township, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the highest median tax bill in Egg Harbor Township is $6707 in the 08234 zip code, while the lowest median tax bill is also $6707 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Egg Harbor Township, New Jersey
Source: Ownwell
$93,600
$351,800
$610,000
Average Egg Harbor Township Assessed Value
$201,350
Average Atlantic County Assessed Value
$186,700
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Egg Harbor Township, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08234 | $102,200 | $152,100 | $201,350 | $254,200 | $298,900 |
Source: Ownwell
Property Tax Bills Across Egg Harbor Township, New Jersey
In Egg Harbor Township, located in Atlantic County, 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 township's assessor and aims to reflect the market value of the property. The local tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in Egg Harbor Township face varying property tax bills. For instance, the 25th percentile tax bill is around $5,059, while the 75th percentile reaches $8,474. At the higher end, the 90th percentile tax bill is approximately $9,962. The median home price in the township is $201,350, contributing to these tax figures. Compared to the national median property tax rate of 0.99%, the property tax burden in Egg Harbor Township can be significantly higher. This disparity can impact homeowners by increasing their annual expenses, potentially influencing their decisions regarding property ownership and investment in the area.
Average Egg Harbor Township Tax Bill
$6,707
Average Atlantic County Tax Bill
$5,716
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Egg Harbor Township, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08234 | $3,440 | $5,059 | $6,707 | $8,474 | $9,962 |
Source: Ownwell