West Long Branch, New Jersey Property Taxes
The median property tax rate in West Long Branch, NJ is 1.45%, considerably higher than both the national median of 0.99% and New Jersey's state median of 2.82%. With the median home value in West Long Branch at $637,150, the typical annual property tax bill reaches $9,083, far exceeding the national median of $2,690. Property taxes in West Long Branch 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 West Long Branch'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 West Long Branch 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
West Long Branch, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$9,239
Ownwell’s West Long Branch Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West Long Branch with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Long Branch 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 West Long Branch, New Jersey
Property taxes in West Long Branch, 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 West Long Branch is 1.45%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within West Long Branch set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Long Branch 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 West Long Branch's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 07764 zip code has the highest median property tax rate of 1.45%, while the same zip code also has the lowest median tax rate of 1.45%. Understanding how these cities compare with West Long Branch 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 West Long Branch Tax Rate
1.45%
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 West Long Branch, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07764 | 1.25% | 1.34% | 1.45% | 1.54% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across West Long Branch, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in West Long Branch, NJ. 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 West Long Branch, 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. With a median home price of $637,150, West Long Branch residents face a median tax bill of $9,083, which is notably higher than the national median property tax rate of 0.99%. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across West Long Branch, New Jersey
Source: Ownwell
$214,800
$1,639,900
$3,065,000
Average West Long Branch Assessed Value
$637,150
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 West Long Branch, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07764 | $416,880 | $495,350 | $637,150 | $883,750 | $1,122,400 |
Source: Ownwell
Property Tax Bills Across West Long Branch, New Jersey
Property tax bills in West Long Branch, located in Monmouth County, NJ, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office and is meant to reflect a percentage of the property's market value. With a median home price of $637,150, homeowners in this area can expect varying tax bills depending on their property's assessed value and the applied tax rate. Several factors influence the tax bill, including property size, location, and any improvements made. For example, tax bills in the 25th percentile are around $7,248, while those in the 75th percentile reach approximately $12,327. For homeowners in the 90th percentile, tax bills can soar to about $15,939. The median property tax bill in West Long Branch is notably higher than the national median of 0.99%, reflecting the higher property values and local tax rates. These taxes fund essential community services such as schools, emergency services, and infrastructure maintenance, directly impacting homeowners' financial planning.
Average West Long Branch Tax Bill
$9,083
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 West Long Branch, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07764 | $6,019 | $7,248 | $9,083 | $12,327 | $15,939 |
Source: Ownwell