Keansburg, New Jersey Property Taxes
The median property tax rate in Keansburg, NJ is 2.41%, 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 Keansburg, the typical annual property tax bill reaches $5,432, exceeding the national median of $2,690. Property taxes in Keansburg 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 Keansburg'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 Keansburg 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
Keansburg, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.41%
Estimate Property Tax Bill
$5,562
Ownwell’s Keansburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Keansburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Keansburg 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 Keansburg, New Jersey
Property taxes in Keansburg, New Jersey, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Keansburg is 2.41%, significantly higher than the U.S. national median of 0.99%. Local government entities within Keansburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Keansburg 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 Keansburg's effective property tax rate to other regions in Monmouth County and the national median. For comparison, the zip code 07734 has both the highest and lowest median property tax rate of 2.41%. Understanding how these areas compare with Keansburg 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 Keansburg Tax Rate
2.41%
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 Keansburg, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07734 | 2.19% | 2.29% | 2.41% | 2.44% | 2.53% |
Source: Ownwell
Property Tax Assessment Values Across Keansburg, New Jersey
In Keansburg, 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 Keansburg, 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 Keansburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Keansburg both stand at $5,432 in the zip code 07734.
Property Tax Assessment Values Across Keansburg, New Jersey
Source: Ownwell
$214,800
$1,639,900
$3,065,000
Average Keansburg Assessed Value
$230,800
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 Keansburg, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07734 | $148,000 | $181,500 | $230,800 | $287,300 | $346,560 |
Source: Ownwell
Property Tax Bills Across Keansburg, New Jersey
In Keansburg, Monmouth County, NJ, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by local tax assessors and can differ from the market value. The tax rate is then applied to this assessed value to determine the final tax bill. For instance, a median home price in Keansburg stands at $230,800. Homeowners in this area can expect property tax bills that vary significantly. The 25th percentile tax bill is around $4,224, while those in the 75th percentile pay approximately $6,780. At the 90th percentile, the tax bill can reach up to $8,343. These figures show a range of tax burdens that can affect homeowners differently, depending on the assessed value of their property. Compared to the national median property tax rate of 0.99%, Keansburg residents face higher property tax rates, which can impact their overall housing costs and affordability.
Average Keansburg Tax Bill
$5,432
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 Keansburg, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07734 | $3,427 | $4,224 | $5,432 | $6,780 | $8,343 |
Source: Ownwell