Tuckerton, New Jersey Property Taxes
The median property tax rate in Tuckerton, NJ is 2.64%, 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 Tuckerton, the typical annual property tax bill reaches $5,334, far exceeding the national median of $2,690. Property taxes in Tuckerton 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 Tuckerton'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 Tuckerton 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
Tuckerton, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.64%
Estimate Property Tax Bill
$5,415
Ownwell’s Tuckerton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tuckerton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tuckerton 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 Tuckerton, New Jersey
Property taxes in Tuckerton, New Jersey, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Tuckerton is 2.64%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Tuckerton set these rates annually, and they can vary notably across different neighborhoods. Each year, Tuckerton 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. Understanding how Tuckerton's effective property tax rate compares to other areas in Ocean County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring regions.
Average Tuckerton Tax Rate
2.64%
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 Tuckerton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08087 | 2.26% | 2.60% | 2.64% | 2.64% | 2.75% |
Source: Ownwell
Property Tax Assessment Values Across Tuckerton, New Jersey
In Tuckerton, 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 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 Tuckerton, 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. The median home price in Tuckerton is $205,100, with tax bills ranging from $4,153 at the 25th percentile to $8,815 at the 90th percentile. The median tax bill stands at $5,334, consistent across the zip code 08087. 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 Tuckerton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tuckerton Assessed Value
$205,100
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 Tuckerton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08087 | $129,800 | $166,100 | $205,100 | $268,450 | $336,200 |
Source: Ownwell
Property Tax Bills Across Tuckerton, New Jersey
In Tuckerton, 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 Ocean County tax assessor and reflects the market value of the property. Once the assessed value is established, the property tax rate, set by local taxing authorities, is applied to calculate the annual tax bill. For homeowners in Tuckerton, the median home price is $205,100. Property tax bills can vary significantly; for instance, the 25th percentile tax bill is $4,153, while the 75th percentile tax bill reaches $7,051. At the higher end, the 90th percentile tax bill can be as much as $8,815. Comparatively, the national median property tax rate is 0.99%, making Tuckerton's property tax rates relatively high. These tax bills fund essential community services like public schools, emergency services, and infrastructure maintenance. As a result, homeowners in Tuckerton must budget for these expenses, which can significantly impact their overall cost of living.
Average Tuckerton Tax Bill
$5,334
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 Tuckerton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08087 | $3,181 | $4,153 | $5,334 | $7,051 | $8,815 |
Source: Ownwell