Mays Landing, New Jersey Property Taxes
The median property tax rate in Mays Landing, NJ is 3.23%, 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 Mays Landing, the typical annual property tax bill reaches $5,120, exceeding the national median of $2,690. Property taxes in Mays Landing 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 Mays Landing'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 Mays Landing 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
Mays Landing, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.23%
Estimate Property Tax Bill
$5,174
Ownwell’s Mays Landing Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a quick way to estimate their annual property taxes with just two data points. By inputting your property's estimated assessed value, the calculator applies Mays Landing's median tax rate to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more granular details, you can explore neighborhood-level trends by scrolling down. Your property’s assessed value is determined by the county for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Mays Landing, New Jersey
Property taxes in Mays Landing, 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 Mays Landing is 3.23%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Mays Landing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mays Landing 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 Mays Landing's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 08330 has the highest median property tax rate of 3.23%, while the same zip code also has the lowest median tax rate of 3.23%. Understanding how these cities compare with Mays Landing 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 Mays Landing Tax Rate
3.23%
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 Mays Landing, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08330 | 3.23% | 3.23% | 3.23% | 3.23% | 3.23% |
Source: Ownwell
Property Tax Assessment Values Across Mays Landing, New Jersey
In Mays Landing, 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 Mays Landing, 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. The median home price in Mays Landing is $160,200, with tax bills ranging from $3,465 at the 25th percentile to $8,400 at the 90th percentile. Both the highest and lowest median tax bills are $5,120 in the zip code 08330. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Mays Landing helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Mays Landing, New Jersey
Source: Ownwell
$93,600
$351,800
$610,000
Average Mays Landing Assessed Value
$160,200
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 Mays Landing, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08330 | $57,900 | $108,500 | $160,200 | $215,650 | $262,700 |
Source: Ownwell
Property Tax Bills Across Mays Landing, New Jersey
In Mays Landing, NJ, property tax bills are determined based on the assessed value of a home, which is then multiplied by the local tax rate. The median home price in this area is $160,200. Homeowners in Mays Landing can expect their property tax bills to vary significantly. For example, the tax bill at the 25th percentile is approximately $3,465, while at the 75th percentile it rises to about $6,917, and at the 90th percentile, it can reach up to $8,400. These tax bills are influenced by factors such as property size, location, and local government budgets. The highest and lowest median tax bills in the area are both reported at $5,120, indicating a consistent tax rate across different parts of the city. Compared to the national median property tax rate of 0.99%, Mays Landing homeowners experience a higher tax burden, which can impact their overall cost of living and financial planning.
Average Mays Landing Tax Bill
$5,120
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 Mays Landing, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08330 | $1,868 | $3,465 | $5,120 | $6,917 | $8,400 |
Source: Ownwell