Allenhurst, New Jersey Property Taxes
The median property tax rate in Allenhurst, NJ, is 0.69%, which is significantly lower than both the national median of 0.99% and the New Jersey state median of 2.82%. With the median home value in Allenhurst at $1,403,800, the typical annual property tax bill reaches $11,559, surpassing the national median of $2,690. Property taxes in Allenhurst are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Allenhurst's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Allenhurst or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Allenhurst, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$9,686
Ownwell’s Allenhurst Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and prospective buyers to estimate their annual property taxes in Allenhurst with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Allenhurst to provide an estimated property tax bill. This insightful tool helps you understand potential tax liabilities and plan accordingly. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is the value assigned by Monmouth County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Allenhurst, New Jersey
Property taxes in Allenhurst, New Jersey, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Allenhurst is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Allenhurst set these rates annually, and they can vary significantly across different neighborhoods. Each year, Allenhurst 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 Allenhurst's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 07711 zip code has both the highest and the lowest median property tax rate of 0.69%. Understanding how these cities compare with Allenhurst provides valuable insights into the varying tax landscape across Monmouth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Allenhurst Tax Rate
0.69%
Average Monmouth County Tax Rate
1.86%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Allenhurst, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07711 | 0.51% | 0.64% | 0.69% | 1.44% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Allenhurst, New Jersey
In Allenhurst, 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 Monmouth County Assessor 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 Allenhurst, 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. Being aware of these valuation processes in Allenhurst helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 07711, with a median tax bill of $11,559.
Property Tax Assessment Values Across Allenhurst, New Jersey
Source: Ownwell
$214,800
$1,639,900
$3,065,000
Average Allenhurst Assessed Value
$1,403,800
Average Monmouth County Assessed Value
$467,900
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Allenhurst, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07711 | $620,800 | $820,950 | $1,403,800 | $2,179,550 | $3,430,300 |
Source: Ownwell
Property Tax Bills Across Allenhurst, New Jersey
In Allenhurst, 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 Monmouth County assessor and typically reflects a percentage of the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. Homeowners in Allenhurst face a significant tax burden, with the median home price at $1,403,800. The tax bills can vary widely, with the 25th percentile at $9,521 and the 75th percentile at $15,549, reaching up to $23,493 at the 90th percentile. These figures are notably higher than the national median property tax rate of 0.99%, reflecting the premium property values in the area. Consequently, property taxes in Allenhurst can have a substantial impact on homeowners, influencing decisions on buying, selling, and maintaining properties. This high tax environment underscores the importance of understanding how property taxes are calculated and managed locally.
Average Allenhurst Tax Bill
$11,559
Average Monmouth County Tax Bill
$8,714
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Allenhurst, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07711 | $7,557 | $9,521 | $11,559 | $15,549 | $23,493 |
Source: Ownwell