Whiting, New Jersey Property Taxes
The median property tax rate in Whiting, NJ is 2.76%, 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 Whiting, the typical annual property tax bill reaches $8,350, exceeding the national median of $2,690. Property taxes in Whiting 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 Whiting'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 Whiting 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
Whiting, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.76%
Estimate Property Tax Bill
$8,353
Ownwell’s Whiting Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Whiting with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Whiting to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, making it easier to plan your finances. For those interested in more detailed insights, scrolling down will reveal trends on a neighborhood level. Your property’s assessed value, assigned by Burlington County, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Whiting, New Jersey
Property taxes in Whiting, NJ, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Whiting is 2.76%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Whiting set these rates annually, and they can vary across different neighborhoods. Each year, Whiting 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 Whiting's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 08759 has the highest median property tax rate of 2.76%, while the same zip code has the lowest median tax rate of 2.76%. Understanding how these cities compare with Whiting 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 Whiting Tax Rate
2.76%
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 Whiting, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08759 | 2.76% | 2.76% | 2.76% | 2.76% | 2.76% |
Source: Ownwell
Property Tax Assessment Values Across Whiting, New Jersey
In Whiting, 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 Whiting, 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. Notably, the median home price in Whiting is $302,650. 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 Whiting helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 08759 has both the highest and lowest median tax bill, standing at $8,350.
Average Whiting Assessed Value
$302,650
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 Whiting, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08759 | $135,850 | $194,900 | $302,650 | $329,400 | $368,800 |
Source: Ownwell
Property Tax Bills Across Whiting, New Jersey
In Whiting, NJ, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the market value, which is periodically evaluated by local assessors. Several factors influence the assessed value, including property size, location, and condition. The local tax rate is set by municipal, county, and school district budgets, and it can fluctuate based on the financial needs of these entities. Homeowners in Whiting experience property tax bills that can vary significantly. For instance, the median home price in the area is $302,650, resulting in substantial tax bills. The 25th percentile tax bill is $5,377, while the 75th percentile reaches $9,088. At the 90th percentile, tax bills can soar to $10,175. These figures highlight the financial impact on homeowners, as property taxes in Whiting are considerably higher than the national median property tax rate of 0.99%. Consequently, homeowners must budget accordingly to manage these expenses effectively.
Average Whiting Tax Bill
$8,350
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 Whiting, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08759 | $3,748 | $5,377 | $8,350 | $9,088 | $10,175 |
Source: Ownwell