Perth Amboy, New Jersey Property Taxes
The median property tax rate in Perth Amboy, NJ is 2.97%, significantly higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With a median home value of $230,700, the typical annual property tax bill in Perth Amboy reaches $6,881, far exceeding the national median of $2,690. Property taxes in Perth Amboy are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Perth Amboy'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 Perth Amboy 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
Perth Amboy, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.97%
Estimate Property Tax Bill
$6,852
Ownwell’s Perth Amboy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Perth Amboy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Perth Amboy 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 Middlesex County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Perth Amboy, New Jersey
Property taxes in Perth Amboy, NJ, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Perth Amboy is 2.97%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Perth Amboy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Perth Amboy 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 Perth Amboy's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08861 zip code has the highest median property tax rate of 2.97%, while the same zip code also has the lowest median tax rate of 2.97%. Understanding how these cities compare with Perth Amboy 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 Perth Amboy Tax Rate
2.97%
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 Perth Amboy, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08861 | 2.38% | 2.97% | 2.97% | 2.97% | 2.98% |
Source: Ownwell
Property Tax Assessment Values Across Perth Amboy, New Jersey
In Perth Amboy, 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 Perth Amboy, 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 Perth Amboy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 08861, both at $6881.
Average Perth Amboy Assessed Value
$230,700
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 Perth Amboy, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08861 | $115,460 | $185,450 | $230,700 | $276,250 | $319,800 |
Source: Ownwell
Property Tax Bills Across Perth Amboy, New Jersey
In Perth Amboy, located in Middlesex County, NJ, property tax bills are primarily determined by the assessed value of a home and the local tax rate. The assessed value is a percentage of the home's market value, which is periodically evaluated by local assessors. For instance, the median home price in Perth Amboy is $230,700. Homeowners in this area face varying tax bills depending on their property's assessed value and specific tax rate. Property tax bills can range significantly. For example, homeowners at the 25th percentile pay around $5,633, while those at the 75th percentile see bills of approximately $8,262. At the 90th percentile, tax bills can reach up to $9,668. These figures illustrate the substantial impact property taxes can have on household finances in Perth Amboy. When compared to the national median property tax rate of 0.99%, Perth Amboy's rates are notably higher, reflecting the region's specific economic and governmental factors. Understanding these elements helps homeowners anticipate and plan for their annual property tax obligations.
Average Perth Amboy Tax Bill
$6,881
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 Perth Amboy, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08861 | $4,552 | $5,633 | $6,881 | $8,262 | $9,668 |
Source: Ownwell