Keasbey, New Jersey Property Taxes
The median property tax rate in Keasbey, NJ is 12.40%, 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 Keasbey at $66,600, the typical annual property tax bill reaches $8,160, far exceeding the national median of $2,690. Property taxes in Keasbey 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 Keasbey'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 Keasbey 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
Keasbey, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
12.4%
Estimate Property Tax Bill
$8,258
Ownwell’s Keasbey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Keasbey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Keasbey 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 Keasbey, New Jersey
Property taxes in Keasbey, New Jersey, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Keasbey is 12.40%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Keasbey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Keasbey 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 Keasbey's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 08832 has the highest median property tax rate of 12.40%, while the same zip code also has the lowest median tax rate of 12.40%. Understanding how these cities compare with Keasbey provides valuable insights into the varying tax landscape across Middlesex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Keasbey Tax Rate
12.40%
Average Middlesex County Tax Rate
5.10%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Keasbey, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08832 | 11.27% | 12.40% | 12.40% | 12.40% | 12.40% |
Source: Ownwell
Property Tax Assessment Values Across Keasbey, New Jersey
In Keasbey, 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 Middlesex 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 Keasbey, 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. The median property tax bill in Keasbey is $8,160, with the highest and lowest median tax bills both found in the 08832 zip code. 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 Keasbey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Keasbey Assessed Value
$66,600
Average Middlesex County Assessed Value
$158,000
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Keasbey, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08832 | $46,640 | $57,900 | $66,600 | $68,600 | $80,060 |
Source: Ownwell
Property Tax Bills Across Keasbey, New Jersey
Property tax bills in Keasbey, located in Middlesex County, NJ, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local tax assessor and reflects a percentage of the property's market value. Middlesex County's property tax rate is notably higher than the national median of 0.99%, resulting in substantial tax bills for homeowners. For instance, the median home price in Keasbey is $66,600, and the tax bills can vary significantly. Homeowners in the 25th percentile see tax bills around $6,590, while those in the 75th percentile pay approximately $8,482. At the 90th percentile, tax bills can reach up to $9,854. These figures highlight the considerable financial impact on property owners in this region. The highest and lowest median tax bills in Keasbey are both recorded at $8,160, indicating a relatively uniform assessment across different properties. This comprehensive approach ensures that tax obligations are distributed equitably, but it also underscores the importance of accurate property assessments in determining fair tax bills.
Average Keasbey Tax Bill
$8,160
Average Middlesex County Tax Bill
$7,840
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Keasbey, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08832 | $5,144 | $6,590 | $8,160 | $8,482 | $9,854 |
Source: Ownwell