Quinton, New Jersey Property Taxes
The median property tax rate in Quinton, NJ is 3.29%, considerably higher than both the national median of 0.99% and New Jersey's state median of 2.82%. With the median home value in Quinton, the typical annual property tax bill reaches $3,608, exceeding the national median of $2,690. Property taxes in Quinton 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 Quinton'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 Quinton 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
Quinton, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.29%
Estimate Property Tax Bill
$3,800
Ownwell’s Quinton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Quinton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Quinton 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 Quinton, New Jersey
Property taxes in Quinton, 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 Quinton is 3.29%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Quinton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Quinton 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 Quinton's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 08072 has the highest median property tax rate of 3.29%, while the same zip code also has the lowest median tax rate of 3.29%. Understanding how these cities compare with Quinton provides valuable insights into the varying tax landscape across Salem County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Quinton Tax Rate
3.29%
Average Salem County Tax Rate
3.71%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Quinton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08072 | 2.96% | 3.16% | 3.29% | 3.29% | 3.29% |
Source: Ownwell
Property Tax Assessment Values Across Quinton, New Jersey
In Quinton, 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 Salem 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 Quinton, 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 the area is $3,608 in the 08072 zip code, which also has the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Quinton Assessed Value
$115,500
Average Salem County Assessed Value
$154,700
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Quinton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08072 | $48,400 | $90,050 | $115,500 | $141,000 | $160,000 |
Source: Ownwell
Property Tax Bills Across Quinton, New Jersey
Property tax bills in Quinton, Salem County, NJ, are calculated based on the assessed value of a property and the local tax rate. The process begins with the local assessor determining the assessed value of each property, which is then multiplied by the local tax rate to calculate the tax bill. In Quinton, the median home price is $115,500, and homeowners can expect their property tax bills to vary significantly. For example, the 25th percentile tax bill is around $2,640, while the 75th percentile tax bill can reach up to $4,595. At the 90th percentile, the tax bill can soar to approximately $5,080. Compared to the national median property tax rate of 0.99%, Quinton's property tax rates can be relatively high, impacting homeowners' annual expenses. This variability in tax bills highlights the importance of understanding local tax rates and assessed values, as they directly influence the financial obligations of owning a home in Quinton.
Average Quinton Tax Bill
$3,608
Average Salem County Tax Bill
$5,715
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Quinton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08072 | $1,649 | $2,640 | $3,608 | $4,595 | $5,080 |
Source: Ownwell