Avon By The Sea, New Jersey Property Taxes
The median property tax rate in Avon by the Sea, NJ is 0.82%, which is lower than both the national median of 0.99% and the New Jersey state median of 2.82%. With a median home value of $1,244,650 in Avon by the Sea, the typical annual property tax bill reaches $9,966, significantly surpassing the national median of $2,690. Property taxes in Avon by the Sea are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Avon by the Sea'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 Avon by the Sea or another part of Monmouth County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Avon By The Sea, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$10,206
Ownwell’s Avon by the Sea Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Avon by the Sea with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Avon by the Sea 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 Avon By The Sea, New Jersey
Property taxes in Avon by the Sea, NJ, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Avon by the Sea is 1.64%, significantly higher than both the New Jersey state median of 2.21% and the U.S. national median of 0.99%. Local government entities within Avon by the Sea set these rates annually, and they can vary significantly across different neighborhoods. Each year, Avon by the Sea 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 Avon by the Sea's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 07717 zip code has the highest median property tax rate of 1.64%, while the same zip code also has the lowest median tax rate of 1.64%. Understanding how these cities compare with Avon by the Sea provides valuable insights into the varying tax landscape across Monmouth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Avon By The Sea Tax Rate
0.82%
Average Monmouth County Tax Rate
1.86%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Avon By The Sea, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07717 | 0.68% | 0.76% | 0.82% | 0.88% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Avon By The Sea, New Jersey
In Avon by the Sea, 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 Monmouth 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 Avon by the Sea, 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 Avon by the Sea helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the zip code 07717 has the highest and lowest median tax bill at $9,966. The 25th percentile tax bill is $5,996, while the 75th percentile tax bill is $13,849, and the 90th percentile tax bill is $18,412.
Property Tax Assessment Values Across Avon By The Sea, New Jersey
Source: Ownwell
$214,800
$1,639,900
$3,065,000
Average Avon By The Sea Assessed Value
$1,244,650
Average Monmouth County Assessed Value
$467,900
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Avon By The Sea, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07717 | $447,840 | $767,700 | $1,244,650 | $1,701,425 | $2,215,330 |
Source: Ownwell
Property Tax Bills Across Avon By The Sea, New Jersey
In Avon by the Sea, Monmouth County, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. The tax rate, set by local government entities, is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and condition. For instance, in Avon by the Sea, the median home price is $1,244,650, significantly higher than the national median. This higher home value contributes to a higher tax bill, with the 25th percentile tax bill at $5,996 and the 75th percentile tax bill at $13,849. Homeowners in this area face one of the highest median tax bills in the nation, with the median tax bill standing at $9,966. This substantial tax burden can impact homeowners' financial planning and the overall cost of owning property in the region.
Average Avon By The Sea Tax Bill
$9,966
Average Monmouth County Tax Bill
$8,714
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Avon By The Sea, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07717 | $3,396 | $5,996 | $9,966 | $13,849 | $18,412 |
Source: Ownwell