Augusta, New Jersey Property Taxes
The median property tax rate in Augusta, NJ is 2.82%, 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 Augusta, the typical annual property tax bill reaches $8,225, exceeding the national median of $2,690. Property taxes in Augusta 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 Augusta'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 Augusta 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
Augusta, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.82%
Estimate Property Tax Bill
$8,232
Ownwell’s Augusta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Augusta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Augusta 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 Augusta, New Jersey
Property taxes in Augusta, 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 Augusta is 2.82%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Augusta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Augusta 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 Augusta's effective property tax rate to other areas in New Jersey and the national median. For comparison, the 07822 zip code has the highest median property tax rate of 2.82%, while the same zip code also has the lowest median tax rate of 2.82%. Understanding how these areas compare with Augusta provides valuable insights into the varying tax landscape across Sussex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Augusta Tax Rate
2.82%
Average Sussex County Tax Rate
3.40%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Augusta, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07822 | 2.81% | 2.81% | 2.82% | 2.82% | 2.82% |
Source: Ownwell
Property Tax Assessment Values Across Augusta, New Jersey
In Augusta, 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 Sussex 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 Augusta, 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 Augusta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Augusta are both $8,225, found in the 07822 zip code.
Average Augusta Assessed Value
$291,900
Average Sussex County Assessed Value
$229,300
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Augusta, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07822 | $186,050 | $233,100 | $291,900 | $361,725 | $526,330 |
Source: Ownwell
Property Tax Bills Across Augusta, New Jersey
In Augusta, Sussex County, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate the property's market value and apply an assessment ratio. This ratio ensures that the assessed value aligns with current market conditions. Homeowners in Augusta face a median home price of $291,900, and property tax bills can vary significantly. The tax bill at the 25th percentile is $6,551, while at the 75th percentile, it reaches $10,103. For those in the 90th percentile, the tax bill can be as high as $14,624. These figures underscore the considerable range in property tax burdens within the area. The highest and lowest median tax bills in Augusta both stand at $8,225, specifically in the 07822 zip code. Compared to the national median property tax rate of 0.99%, homeowners in Augusta experience a higher financial impact, highlighting the importance of understanding local property tax assessments and their implications on household budgets.
Average Augusta Tax Bill
$8,225
Average Sussex County Tax Bill
$7,518
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Augusta, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07822 | $5,239 | $6,551 | $8,225 | $10,103 | $14,624 |
Source: Ownwell