Egg Harbor City, New Jersey Property Taxes
The median property tax rate in Egg Harbor City, NJ is 3.21%, 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 Egg Harbor City at $154,400, the typical annual property tax bill reaches $6,120, exceeding the national median of $2,690. Property taxes in Egg Harbor City 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 Egg Harbor City'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 Egg Harbor City 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
Egg Harbor City, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.21%
Estimate Property Tax Bill
$4,956
Ownwell's Egg Harbor City Property Tax Bill Calculator offers a simple yet effective way for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Egg Harbor City. By entering your property's estimated assessed value, the calculator uses the median tax rate in Egg Harbor City to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities, making it easier to plan and budget. For those interested in more detailed insights, you can explore neighborhood-level trends by scrolling down. Your property's assessed value is determined by the county and includes any applicable exemptions, ensuring an accurate calculation for property tax purposes.
Property Tax Rates Across Egg Harbor City, New Jersey
Property taxes in Egg Harbor City, 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 Egg Harbor City is 3.21%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Egg Harbor City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Egg Harbor City 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 Egg Harbor City's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08215 zip code has the highest median property tax rate of 3.21%, while the 08215 zip code also has the lowest median tax rate of 3.21%. Understanding how these cities compare with Egg Harbor City 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 Egg Harbor City Tax Rate
3.21%
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 Egg Harbor City, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08215 | 3.21% | 3.21% | 3.21% | 5.45% | 5.45% |
Source: Ownwell
Property Tax Assessment Values Across Egg Harbor City, New Jersey
In Egg Harbor City, 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. In Egg Harbor City, 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 Egg Harbor City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $154,400, with the highest and lowest median tax bill both standing at $6,120 in the 08215 zip code.
Property Tax Assessment Values Across Egg Harbor City, New Jersey
Source: Ownwell
$93,600
$351,800
$610,000
Average Egg Harbor City Assessed Value
$154,400
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 Egg Harbor City, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08215 | $94,620 | $116,900 | $154,400 | $218,100 | $280,480 |
Source: Ownwell
Property Tax Bills Across Egg Harbor City, New Jersey
In Egg Harbor City, Atlantic 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 the local tax assessor and is meant to reflect the market value of the property. This value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $154,400, homeowners can expect a tax bill that varies significantly. The 25th percentile tax bill is around $4,745, while the 75th percentile tax bill reaches approximately $7,835. At the 90th percentile, the tax bill can be as high as $9,567. These tax bills are considerably higher than the national median property tax rate of 0.99%, reflecting the higher tax rates in New Jersey. This substantial financial obligation can impact homeowners' budgets and influences decisions on buying or selling property. Understanding these factors is crucial for homeowners to manage their finances effectively.
Average Egg Harbor City Tax Bill
$6,120
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 Egg Harbor City, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08215 | $3,592 | $4,745 | $6,120 | $7,835 | $9,567 |
Source: Ownwell