Lakehurst, New Jersey Property Taxes
The median property tax rate in Lakehurst, NJ is 3.25%, 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 Lakehurst at $150,600, the typical annual property tax bill reaches $4,753, exceeding the national median of $2,690. Property taxes in Lakehurst 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 Lakehurst'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 Lakehurst 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
Lakehurst, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.25%
Estimate Property Tax Bill
$4,895
Ownwell’s Lakehurst Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lakehurst with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lakehurst 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 Lakehurst, New Jersey
Property taxes in Lakehurst, New Jersey, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakehurst is 3.25%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Lakehurst set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lakehurst 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 Lakehurst's effective property tax rate to other areas in Ocean County and the national median. For comparison, the 08733 zip code has the highest median property tax rate of 3.25%, while the 08759 zip code has the lowest median tax rate of 2.17%. Understanding how these areas compare with Lakehurst provides valuable insights into the varying tax landscape across Ocean County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lakehurst Tax Rate
3.25%
Average Ocean County Tax Rate
2.26%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakehurst, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08733 | 2.95% | 3.23% | 3.25% | 3.25% | 3.25% |
| 08759 | 1.99% | 2.02% | 2.17% | 2.17% | 2.17% |
Source: Ownwell
Property Tax Assessment Values Across Lakehurst, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lakehurst, 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 local 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 Lakehurst, 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. For instance, the highest median tax bill in the area is $4,792 in the 08733 zip code, while the lowest is $3,501 in the 08759 zip code. 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 Lakehurst helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lakehurst Assessed Value
$150,600
Average Ocean County Assessed Value
$281,800
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lakehurst, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08733 | $128,220 | $135,750 | $150,100 | $175,950 | $209,820 |
| 08759 | $143,300 | $150,625 | $166,400 | $180,825 | $192,310 |
Source: Ownwell
Property Tax Bills Across Lakehurst, New Jersey
In Lakehurst, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Ocean County. The assessed value is determined by the local tax assessor and reflects the market value of the property. Once the assessed value is established, the tax rate is applied to calculate the annual property tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. For instance, the median home price in Lakehurst is $150,600. Homeowners in the 25th percentile of tax bills pay around $4,278, while those in the 75th percentile pay approximately $5,573. The 90th percentile sees tax bills as high as $6,767. These property taxes significantly impact homeowners, as they must budget for these expenses annually. Comparatively, Lakehurst's property tax rates are higher than the national median property tax rate of 0.99%, making it essential for homeowners to understand and plan for these costs.
Average Lakehurst Tax Bill
$4,753
Average Ocean County Tax Bill
$5,983
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakehurst, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08733 | $3,992 | $4,310 | $4,792 | $5,621 | $6,801 |
| 08759 | $2,896 | $3,146 | $3,501 | $3,905 | $4,167 |
Source: Ownwell