Pittstown, New Jersey Property Taxes
The median property tax rate in Pittstown, NJ is 2.82%, 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 Pittstown at $402,850, the typical annual property tax bill reaches $11,320, exceeding the national median of $2,690. Property taxes in Pittstown 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 Pittstown'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 Pittstown 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
Pittstown, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.82%
Estimate Property Tax Bill
$11,360
Ownwell’s Pittstown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pittstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pittstown 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 Pittstown, New Jersey
Property taxes in Pittstown, New Jersey, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Pittstown is 2.82%, significantly higher than the U.S. national median of 0.99%. Local government entities within Pittstown set these rates annually, and they can vary across different neighborhoods. Each year, Pittstown 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 Pittstown's effective property tax rate to other areas in Hunterdon County and the national median. For comparison, the zip code 08867 has the highest median property tax rate of 2.82%, while the same zip code also has the lowest median tax rate of 2.82%. Understanding how these areas compare with Pittstown provides valuable insights into the varying tax landscape across Hunterdon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pittstown Tax Rate
2.82%
Average Hunterdon County Tax Rate
2.66%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pittstown, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08867 | 2.77% | 2.77% | 2.82% | 2.82% | 3.07% |
Source: Ownwell
Property Tax Assessment Values Across Pittstown, New Jersey
In Pittstown, 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 Hunterdon 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. Assessment notices in Pittstown 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. Being aware of these valuation processes in Pittstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Pittstown is $402,850, with tax bills ranging from $8,948 at the 25th percentile to $18,003 at the 90th percentile. The highest and lowest median tax bills are both in the 08867 zip code, valued at $11,320.
Average Pittstown Assessed Value
$402,850
Average Hunterdon County Assessed Value
$364,050
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pittstown, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08867 | $258,810 | $317,375 | $402,850 | $525,000 | $624,300 |
Source: Ownwell
Property Tax Bills Across Pittstown, New Jersey
In Pittstown, Hunterdon 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 local assessor, reflecting the market value of the property. This value is then multiplied by the tax rate to compute the annual tax bill. Homeowners in Pittstown face a significant tax burden, with the median home price at $402,850. The tax bill ranges widely, with the 25th percentile paying around $8,948 and the 75th percentile reaching up to $15,140. In some cases, it can go as high as $18,003 for the 90th percentile. Comparatively, these figures are substantially higher than the national median property tax rate of 0.99%, highlighting the financial impact on residents. The highest and lowest median tax bills in the area are both recorded at $11,320 in the zip code 08867, indicating a consistent tax rate across properties. This significant tax expense can influence homeownership decisions and the overall cost of living in Pittstown.
Average Pittstown Tax Bill
$11,320
Average Hunterdon County Tax Bill
$10,015
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Pittstown, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08867 | $7,272 | $8,948 | $11,320 | $15,140 | $18,003 |
Source: Ownwell