Blawenburg, New Jersey Property Taxes
The median property tax rate in Blawenburg, NJ is 3.22%, 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 Blawenburg at $366,850, the typical annual property tax bill reaches $11,824, exceeding the national median of $2,690. Property taxes in Blawenburg 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 Blawenburg'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 Blawenburg 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
Blawenburg, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.22%
Estimate Property Tax Bill
$11,813
Ownwell’s Blawenburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blawenburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blawenburg 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 Blawenburg, New Jersey
Property taxes in Blawenburg, 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 Blawenburg is 3.22%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Blawenburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blawenburg 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 Blawenburg's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08504 zip code has the highest median property tax rate of 3.22%, while the 08504 zip code also has the lowest median tax rate of 3.22%. Understanding how these cities compare with Blawenburg provides valuable insights into the varying tax landscape across Somerset County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blawenburg Tax Rate
3.22%
Average Somerset County Tax Rate
2.05%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blawenburg, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08504 | 3.20% | 3.22% | 3.22% | 3.22% | 3.22% |
Source: Ownwell
Property Tax Assessment Values Across Blawenburg, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Blawenburg, 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 Somerset 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 Blawenburg, 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 here is $366,850, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $10,879, while the 75th percentile tax bill is $12,781, and the 90th percentile tax bill reaches $17,828. The highest and lowest median tax bills, both at $11,824, are found in the 08504 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Blawenburg, New Jersey
Source: Ownwell
$230,000
$621,625
$1,013,250
Average Blawenburg Assessed Value
$366,850
Average Somerset County Assessed Value
$415,100
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blawenburg, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08504 | $310,690 | $338,275 | $366,850 | $396,550 | $553,150 |
Source: Ownwell
Property Tax Bills Across Blawenburg, New Jersey
In Blawenburg, Somerset County, NJ, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, reflecting the property's worth. Local government officials set the tax rate, which is applied uniformly across the county. Factors influencing the tax bill include property size, location, and market trends. For example, the median home price in Blawenburg is $366,850, significantly affecting the tax bill. Homeowners in the 25th percentile can expect a tax bill around $10,879, while those in the 75th percentile might see bills closer to $12,781. The highest tax bills, found in the 90th percentile, can reach up to $17,828. These property taxes fund essential public services such as schools, emergency services, and infrastructure. Homeowners must budget for these taxes, as they represent a significant annual expense. Compared to the national median property tax rate of 0.99%, Somerset County's rates can lead to higher tax bills, underscoring the importance of understanding local property tax dynamics.
Average Blawenburg Tax Bill
$11,824
Average Somerset County Tax Bill
$9,311
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Blawenburg, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08504 | $10,004 | $10,879 | $11,824 | $12,781 | $17,828 |
Source: Ownwell