Dorothy, New Jersey Property Taxes
The median property tax rate in Dorothy, NJ is 2.71%, 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 Dorothy at $179,700, the typical annual property tax bill reaches $4,873, exceeding the national median of $2,690. Property taxes in Dorothy 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 Dorothy'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 Dorothy 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
Dorothy, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.71%
Estimate Property Tax Bill
$4,870
Ownwell’s Dorothy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dorothy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dorothy 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 Dorothy, New Jersey
Property taxes in Dorothy, NJ, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Dorothy is 2.71%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Dorothy set these rates annually, and they can vary considerably across different neighborhoods. Each year, Dorothy 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 Dorothy's effective property tax rate to other areas in New Jersey and the national median. For comparison, the zip code 08317 has the highest median property tax rate of 2.71%, while the same zip code also has the lowest median tax rate of 2.71%. Understanding how these figures compare with Dorothy provides valuable insights into the varying tax landscape across Atlantic County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dorothy Tax Rate
2.71%
Average Atlantic County Tax Rate
3.23%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dorothy, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08317 | 2.71% | 2.71% | 2.71% | 2.71% | 2.71% |
Source: Ownwell
Property Tax Assessment Values Across Dorothy, New Jersey
In Dorothy, 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 Atlantic 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. 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. The median home price in Dorothy is $179,700, with tax bills ranging from $3,898 at the 25th percentile to $7,165 at the 90th percentile. The zip code 08317 has both the highest and lowest median tax bill at $4,873. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dorothy Assessed Value
$179,700
Average Atlantic County Assessed Value
$186,700
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dorothy, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08317 | $118,780 | $144,550 | $179,700 | $220,100 | $263,320 |
Source: Ownwell
Property Tax Bills Across Dorothy, New Jersey
In Dorothy, located in Atlantic County, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value typically reflects a percentage of the market value, which is then multiplied by the tax rate to determine the annual tax bill. For instance, with a median home price of $179,700, homeowners can expect varying tax bills. The 25th percentile tax bill is around $3,898, while the 75th percentile reaches $5,973, and the 90th percentile can go up to $7,165. These figures highlight the impact of property taxes on homeowners, with those in higher-value homes facing significantly larger bills. Compared to the national median property tax rate of 0.99%, Dorothy's property tax rates can be quite substantial, reflecting the local government's need to fund services and infrastructure. Homeowners must consider these costs when budgeting for their homes, as property taxes can significantly affect overall housing affordability.
Average Dorothy Tax Bill
$4,873
Average Atlantic County Tax Bill
$5,716
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Dorothy, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08317 | $3,210 | $3,898 | $4,873 | $5,973 | $7,165 |
Source: Ownwell