Sea Girt, New Jersey Property Taxes
The median property tax rate in Sea Girt, NJ is 0.65%, which is significantly lower than both the national median of 0.99% and the New Jersey state median of 2.82%. With the median home value in Sea Girt at $1,334,400, the typical annual property tax bill reaches $11,263, far exceeding the national median of $2,690. Property taxes in Sea Girt 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 Sea Girt's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Sea Girt or another part of Monmouth County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sea Girt, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$8,674
Ownwell’s SEA GIRT Property Tax Bill Calculator provides homeowners, real estate investors, and potential buyers with an easy way to estimate their annual property taxes in SEA GIRT using just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in SEA GIRT to give you a clear estimate of your property tax bill. This powerful tool helps you understand potential tax liabilities and make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Your property’s assessed value is determined by Monmouth County for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Sea Girt, New Jersey
Property taxes in Sea Girt, New Jersey, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Sea Girt is 1.51%, higher than both the New Jersey state median of 1.89% and the U.S. national median of 0.99%. Local government entities within Sea Girt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sea Girt 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 Sea Girt's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08750 zip code has the highest median property tax rate of 1.51%, while the 08750 zip code also has the lowest median tax rate of 1.51%. Understanding how these cities compare with Sea Girt 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 Sea Girt Tax Rate
0.65%
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 Sea Girt, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08750 | 0.54% | 0.58% | 0.65% | 2.00% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Sea Girt, New Jersey
In Sea Girt, 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 Assessor 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 Sea Girt, 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. Sea Girt's median home price is $1,334,400, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $8,358, while the 75th percentile tax bill is $15,002, and the 90th percentile tax bill is $19,029. The highest and lowest median tax bills are both $11,263, found in the zip code 08750. 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 Sea Girt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Sea Girt, New Jersey
Source: Ownwell
$214,800
$1,639,900
$3,065,000
Average Sea Girt Assessed Value
$1,334,400
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 Sea Girt, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08750 | $419,440 | $556,400 | $1,334,400 | $2,296,300 | $3,135,760 |
Source: Ownwell
Property Tax Bills Across Sea Girt, New Jersey
In Sea Girt, 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 local assessor and ideally reflects the market value of the property. Homeowners in Sea Girt can expect to pay a property tax rate that significantly exceeds the national median of 0.99%, resulting in substantial tax bills. Factors such as property size, location, and market trends are considered in the assessment process. For example, the median home price in Sea Girt is $1,334,400, leading to high tax bills. The 25th percentile tax bill is $8,358, while the 75th percentile reaches $15,002, and the 90th percentile soars to $19,029. The highest and lowest median tax bills in the area are both $11,263, reflecting the uniformity in high property values and tax rates. These high property taxes can significantly impact homeowners, making it crucial to understand how assessments are conducted and to explore potential exemptions or appeals to manage the financial burden.
Average Sea Girt Tax Bill
$11,263
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 Sea Girt, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08750 | $6,453 | $8,358 | $11,263 | $15,002 | $19,029 |
Source: Ownwell