Englishtown, New Jersey Property Taxes
The median property tax rate in Englishtown, NJ is 2.09%, 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 Englishtown at $351,500, the typical annual property tax bill reaches $6,984, significantly exceeding the national median of $2,690. Property taxes in Englishtown are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Englishtown'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 Englishtown 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
Englishtown, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.09%
Estimate Property Tax Bill
$7,346
Ownwell’s Englishtown Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and prospective buyers to estimate their annual property taxes in Englishtown with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Englishtown to provide an estimate of your property tax bill. This user-friendly tool helps you understand potential tax liabilities effortlessly. For those interested in neighborhood-level trends, more localized information is available by scrolling down. Your property’s assessed value, determined by the county, is crucial for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Englishtown, New Jersey
Property taxes in Englishtown, 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 Englishtown is 2.09%, significantly higher than the U.S. national median of 0.99%. Local government entities within Englishtown set these rates annually, and they can vary across different neighborhoods. Each year, Englishtown 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 Englishtown's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 07726 has the highest median property tax rate of 2.09%, while the same zip code also has the lowest median tax rate of 2.09%. Understanding how these cities compare with Englishtown 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 Englishtown Tax Rate
2.09%
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 Englishtown, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07726 | 1.76% | 1.89% | 2.09% | 2.34% | 2.34% |
Source: Ownwell
Property Tax Assessment Values Across Englishtown, New Jersey
In Englishtown, 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 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 Englishtown, 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 Englishtown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Englishtown's property tax bills vary significantly, with the median tax bill at $6,984. The zip code 07726 has the highest and lowest median tax bills, both at $6,984, reflecting the area's uniform property valuation and tax assessment practices.
Property Tax Assessment Values Across Englishtown, New Jersey
Source: Ownwell
$214,800
$1,639,900
$3,065,000
Average Englishtown Assessed Value
$351,500
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 Englishtown, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07726 | $133,280 | $201,900 | $351,500 | $491,400 | $615,420 |
Source: Ownwell
Property Tax Bills Across Englishtown, New Jersey
In Englishtown, Monmouth 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 tax assessor and is intended to reflect the market value of the property. Once the assessed value is established, it is multiplied by the tax rate set by the local government to determine the annual tax bill. For example, with a median home price of $351,500, homeowners in Englishtown can expect varying tax bills. The 25th percentile tax bill is around $4,574, while the 75th percentile tax bill climbs to approximately $10,447. At the 90th percentile, the tax bill can reach up to $12,446. The highest and lowest median tax bills in the area are both $6,984, reflecting the specific zip code 07726. These property taxes significantly impact homeowners, influencing decisions on buying or selling property and affecting overall affordability. Compared to the national median property tax rate of 0.99%, Englishtown's rates can be considerably higher, underscoring the importance of understanding local tax obligations.
Average Englishtown Tax Bill
$6,984
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 Englishtown, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07726 | $3,166 | $4,574 | $6,984 | $10,447 | $12,446 |
Source: Ownwell