Union Beach, New Jersey Property Taxes
The median property tax rate in Union Beach, NJ is 2.18%, 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 Union Beach at $330,200, the typical annual property tax bill reaches $6,992, far exceeding the national median of $2,690. Property taxes in Union Beach 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 Union Beach'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 Union Beach 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
Union Beach, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.18%
Estimate Property Tax Bill
$7,198
Ownwell’s Union Beach Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Union Beach with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Union Beach to provide an estimated property tax bill. This valuable 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 Monmouth County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Union Beach, New Jersey
Property taxes in Union Beach, New Jersey, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Union Beach is 2.18%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Union Beach set these rates annually, and they can vary across different neighborhoods. Each year, Union Beach 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 Union Beach's effective property tax rate to other areas in Monmouth County and the national median. For comparison, the zip code 07735 has the highest median property tax rate of 2.18%, while the same zip code also has the lowest median tax rate of 2.18%. Understanding how these areas compare with Union Beach 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 Union Beach Tax Rate
2.18%
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 Union Beach, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07735 | 1.96% | 2.07% | 2.18% | 2.21% | 2.24% |
Source: Ownwell
Property Tax Assessment Values Across Union Beach, New Jersey
In Union Beach, 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 Union Beach, 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 Union Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $330,200, with tax bills ranging from $5,750 at the 25th percentile to $10,200 at the 90th percentile. The zip code 07735 has the highest and lowest median tax bill of $6,992.
Property Tax Assessment Values Across Union Beach, New Jersey
Source: Ownwell
$214,800
$1,639,900
$3,065,000
Average Union Beach Assessed Value
$330,200
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 Union Beach, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07735 | $228,640 | $275,000 | $330,200 | $395,400 | $471,200 |
Source: Ownwell
Property Tax Bills Across Union Beach, New Jersey
In Union Beach, Monmouth County, NJ, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value of the home, which in Union Beach has a median home price of $330,200. Factors such as property size, location, and improvements can influence the assessed value. The tax rate is set by local authorities and funds essential services like schools, infrastructure, and emergency services. Homeowners in Union Beach face varying tax bills, with the 25th percentile at approximately $5,750 and the 75th percentile reaching around $8,448. For those in the 90th percentile, tax bills can be as high as $10,200. Comparatively, the national median property tax rate is 0.99%, highlighting the relatively higher tax burden in this area. This higher tax rate can significantly impact homeowners, affecting their overall housing costs and financial planning.
Average Union Beach Tax Bill
$6,992
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 Union Beach, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07735 | $4,589 | $5,750 | $6,992 | $8,448 | $10,200 |
Source: Ownwell