Newtonville, New Jersey Property Taxes
The median property tax rate in Newtonville, NJ is 2.95%, 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 Newtonville at $184,800, the typical annual property tax bill reaches $5,455, exceeding the national median of $2,690. Property taxes in Newtonville are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Newtonville'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 Newtonville or another part of Atlantic County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Newtonville, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.95%
Estimate Property Tax Bill
$5,452
$5,059
Ownwell’s Newtonville Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Newtonville with just two simple inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Newtonville to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of your potential tax liabilities, making financial planning easier. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county and takes into account any applicable exemptions, ensuring a precise calculation for your tax obligations.
Property Tax Rates Across Newtonville, New Jersey
Property taxes in Newtonville, 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 Newtonville is 2.95%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Newtonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newtonville 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 Newtonville's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08346 zip code has the highest median property tax rate of 2.95%, while the 08346 zip code also has the lowest median tax rate of 2.95%. Understanding how these cities compare with Newtonville 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 Newtonville Tax Rate
2.95%
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 Newtonville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08346 | 2.95% | 2.95% | 2.95% | 2.95% | 2.95% |
Source: Ownwell
Property Tax Assessment Values Across Newtonville, New Jersey
In Newtonville, 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 Board of Taxation 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 Newtonville, 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 Newtonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median tax bill in Newtonville is $5,455, with the highest and lowest median tax bills both occurring in the 08346 zip code.
Average Newtonville Assessed Value
$184,800
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 Newtonville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08346 | $142,160 | $156,350 | $184,800 | $233,300 | $270,280 |
Source: Ownwell
Property Tax Bills Across Newtonville, New Jersey
In Newtonville, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the property's size, location, and condition, as well as recent sales of comparable properties, are all considered in the assessment process. Homeowners in Newtonville can expect varying tax bills depending on their property's assessed value. For instance, the tax bill at the 25th percentile is approximately $4,580, while it rises to around $6,883 at the 75th percentile. At the 90th percentile, homeowners may see tax bills as high as $7,979. The median home price in Newtonville is $184,800, which is relatively modest compared to national standards, but the property tax rate can lead to significant annual expenses. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Newtonville Tax Bill
$5,455
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 Newtonville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08346 | $4,179 | $4,580 | $5,455 | $6,883 | $7,979 |
Source: Ownwell