Parlin, New Jersey Property Taxes
The median property tax rate in Parlin, NJ is 5.54%, significantly higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With the median home value in Parlin, the typical annual property tax bill reaches $7,109, well above the national median of $2,690. Property taxes in Parlin 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 Parlin'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 Parlin 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
Parlin, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
5.54%
Estimate Property Tax Bill
$7,357
Ownwell’s Parlin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Parlin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Parlin 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 Parlin, New Jersey
Property taxes in Parlin, New Jersey, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Parlin is 5.54%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Parlin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parlin 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 Parlin's effective property tax rate to other areas in Middlesex County and the national median. For comparison, the 08859 zip code has both the highest and lowest median property tax rate of 5.54%. Understanding how these cities compare with Parlin 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 Parlin Tax Rate
5.54%
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 Parlin, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08859 | 4.47% | 5.37% | 5.54% | 5.54% | 5.55% |
Source: Ownwell
Property Tax Assessment Values Across Parlin, New Jersey
In Parlin, 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 Parlin, 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 Parlin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 08859 in Parlin has both the highest and lowest median tax bill at $7,109, reflecting the uniformity in tax assessments within the area.
Average Parlin Assessed Value
$132,800
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 Parlin, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08859 | $99,620 | $118,500 | $132,800 | $166,800 | $195,200 |
Source: Ownwell
Property Tax Bills Across Parlin, New Jersey
In Parlin, 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 Middlesex County tax assessor and reflects the property's market value. Homeowners in Parlin can expect their property tax bills to vary significantly depending on their home's assessed value and specific local tax rates. For instance, the median home price in Parlin is $132,800, which serves as a baseline for assessing property taxes. The tax bill for homes in the 25th percentile is around $6,083, while those in the 75th percentile see tax bills of approximately $8,800. At the higher end, the 90th percentile tax bill reaches $10,558. These figures illustrate how property taxes can impact homeowners differently based on their property's value. Compared to the national median property tax rate of 0.99%, Parlin's property tax rates are notably higher, which can significantly affect homeowners' annual expenses. Understanding these factors can help residents better anticipate their property tax obligations and plan accordingly.
Average Parlin Tax Bill
$7,109
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 Parlin, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08859 | $4,783 | $6,083 | $7,109 | $8,800 | $10,558 |
Source: Ownwell