Egg Harbor City, New Jersey Property Taxes
The median property tax rate in Egg Harbor City, NJ is 1.28%, considerably higher than the national median of 0.99% but significantly lower than New Jersey's state median of 2.82%. With the median home value in Egg Harbor City at $217,650, the typical annual property tax bill reaches $2,983, exceeding the national median of $2,690. Property taxes in Egg Harbor City 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 Egg Harbor City'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 Egg Harbor City 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
Egg Harbor City, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$2,786
Ownwell’s Egg Harbor City Property Tax Bill Calculator assists homeowners, real estate investors, and prospective buyers in estimating their annual property taxes with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Egg Harbor City to provide an estimate of your property tax bill. This valuable tool helps you gauge potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, incorporating any applicable exemptions.
Property Tax Rates Across Egg Harbor City, New Jersey
Property taxes in Egg Harbor City, New Jersey, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Egg Harbor City is 1.28%, significantly higher than the U.S. national median of 0.99%. Local government entities within Egg Harbor City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Egg Harbor City 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 Egg Harbor City's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 08215 has the highest median property tax rate of 1.28%, while the same zip code also has the lowest median tax rate of 1.28%. Understanding how these areas compare with Egg Harbor City provides valuable insights into the varying tax landscape across Burlington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Egg Harbor City Tax Rate
1.28%
Average Burlington County Tax Rate
3.07%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Egg Harbor City, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08215 | 1.28% | 1.28% | 1.28% | 1.28% | 2.30% |
Source: Ownwell
Property Tax Assessment Values Across Egg Harbor City, New Jersey
In Egg Harbor City, 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 Burlington 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 Egg Harbor City, 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 median home price is $217,650, with the 25th percentile tax bill at $2,150 and the 75th percentile tax bill at $4,171. The highest median tax bill in the city is $2,983, found in the 08215 zip code. Being aware of these valuation processes in Egg Harbor City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Egg Harbor City, New Jersey
Source: Ownwell
$151,800
$279,500
$407,200
Average Egg Harbor City Assessed Value
$217,650
Average Burlington County Assessed Value
$210,600
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Egg Harbor City, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08215 | $124,490 | $158,325 | $217,650 | $287,950 | $383,770 |
Source: Ownwell
Property Tax Bills Across Egg Harbor City, New Jersey
In Egg Harbor City, located in Burlington County, NJ, property tax bills are determined by a combination of the property's assessed value and the local tax rate. The assessed value is a percentage of the market value, reflecting what the property might sell for under normal conditions. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in Egg Harbor City, the tax bill can vary significantly. The 25th percentile tax bill is around $2,150, while the 75th percentile tax bill reaches $4,171. At the higher end, the 90th percentile tax bill can be as much as $6,278. The median home price in the city is $217,650, and with a median tax bill of $2,983, homeowners pay a substantial amount compared to the national median property tax rate of 0.99%. These taxes fund essential services like schools, public safety, and infrastructure, impacting the overall quality of life for residents.
Average Egg Harbor City Tax Bill
$2,983
Average Burlington County Tax Bill
$6,846
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Egg Harbor City, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08215 | $1,633 | $2,150 | $2,983 | $4,171 | $6,278 |
Source: Ownwell