Margate City, Atlantic County, New Jersey Property Taxes

Name: Property Tax Bills Across Margate City, Atlantic County, New Jersey
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Margate City, NJ effective property tax rate: 1.58%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Margate City, NJ home value: $425,600
Median annual Margate City, NJ tax bill: $6,708, $4,308 higher than the national median property tax bill of $2,400.

How are property taxes in Atlantic County calculated?

Property taxes in Margate City, NJ are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Margate City’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Margate City, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Margate City, Atlantic County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.58%

Estimate Property Tax Bill

$6,724

$6,240

Ownwell’s Margate City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Margate City with just two data points. By entering your property's estimated assessed value, our calculator applies Margate City’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Atlantic County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Margate City, Atlantic County, New Jersey

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

Margate City in Atlantic County, NJ, has an effective property tax rate of 1.58%, which is notably higher than the national median property tax rate of 1.02%. This rate is consistent across the region, with the same rate being both the highest and lowest in the area. Comparing Margate City's property tax rate to the state median, New Jersey maintains a higher property tax rate than many other states. This can result in a significant property tax bill for homeowners. While the national median property tax bill is $2,400, Margate City residents may find themselves paying more due to the higher tax rate. Understanding these local variations is crucial for homeowners looking to manage their property tax expenses effectively.

Property Tax Rates Across Margate City, Atlantic County, New Jersey

Source: Ownwell

1.01%

2.97%

4.94%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Margate City Tax Rate

1.58%

Median Effective Atlantic County Tax Rate

3.23%

Median Effective New Jersey Tax Rate

2.82%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Margate City, Atlantic County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
08402	1.58%	1.58%	1.58%	1.58%	1.58%

Source: Ownwell

Property Tax Assessment Values Across Margate City, Atlantic County, New Jersey

When examining property taxes in Margate City, NJ, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Atlantic County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: In Atlantic County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Margate City. For example, the median home price in Margate City is $425,600, with tax bills ranging significantly across the county. Zip code 08402 has the highest median home price at $425,600.

Property Tax Assessment Values Across Margate City, Atlantic County, New Jersey

Source: Ownwell

$104,600

$357,300

$610,000

Median Margate City Market Value

$425,600

Median Atlantic County Market Value

$186,700

Median New Jersey Market Value

$282,900

Median United States Market Value

$235,294

Property Tax Assessment Values Across Margate City, Atlantic County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
08402	$208,900	$324,400	$425,600	$619,200	$1,050,000

Source: Ownwell

Property Tax Bills Across Margate City, Atlantic County, New Jersey

In Margate City, NJ, property tax bills are determined by the assessed value of a home and the local tax rate. Homeowners in Margate City experience a median property tax bill of $6,708, which is significantly higher than the national median of $2,400. This high tax bill is influenced by the median home price of $425,600 in the area. The tax bill can range widely, with homeowners at the 25th percentile paying $5,101, while those in the 90th percentile see bills as high as $16,560. These variances are due to differences in property values and the specific tax rate applied. High property taxes can place a significant financial burden on homeowners. Fortunately, Ownwell offers a solution by providing expert property tax appeal services. By analyzing your property's assessed value and ensuring it reflects true market conditions, Ownwell can help reduce your tax liability. This service is invaluable for homeowners looking to save money and ensure fair taxation.

Property Tax Bills Across Margate City, Atlantic County, New Jersey

Source: Ownwell

$3,867

$6,498

$9,128

Median Margate City Tax Bill

$6,708

Median Atlantic County Tax Bill

$5,716

Median New Jersey Tax Bill

$8,227

Median United States Tax Bill

$2,400

Property Tax Bills Across Margate City, Atlantic County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
08402	$3,295	$5,101	$6,708	$9,763	$16,560

Source: Ownwell