Williamstown, New Jersey Property Taxes
The median property tax rate in Williamstown, 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 Williamstown, the typical annual property tax bill reaches $4,439, exceeding the national median of $2,690. Property taxes in Williamstown 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 Williamstown'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 Williamstown 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
Williamstown, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.95%
Estimate Property Tax Bill
$4,851
$4,502
Ownwell’s Williamstown Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Williamstown to give you an accurate estimate of your property tax bill. This valuable tool helps you gain a clear understanding of your potential tax liabilities. For those interested in more detailed insights, scroll down to explore neighborhood-level trends and localized information. Your property’s assessed value, assigned by the county for tax calculations, includes any applicable exemptions, ensuring a precise estimate.
Property Tax Rates Across Williamstown, New Jersey
Property taxes in Williamstown, NJ, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Williamstown is 2.95%, significantly higher than the U.S. national median of 0.99%. Local government entities within Williamstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Williamstown 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 Williamstown's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 08094 has the highest median property tax rate of 2.95%, while the same zip code also has the lowest median tax rate of 2.95%. Understanding how these areas compare with Williamstown 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 Williamstown 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 Williamstown, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08094 | 2.16% | 2.16% | 2.95% | 2.98% | 2.98% |
Source: Ownwell
Property Tax Assessment Values Across Williamstown, New Jersey
In Williamstown, 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 Williamstown, 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 Williamstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 08094, with a median tax bill of $4,439.
Property Tax Assessment Values Across Williamstown, New Jersey
Source: Ownwell
$93,600
$351,800
$610,000
Average Williamstown Assessed Value
$164,450
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 Williamstown, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08094 | $138,000 | $148,600 | $164,450 | $189,000 | $213,800 |
Source: Ownwell
Property Tax Bills Across Williamstown, New Jersey
In Williamstown, NJ, located in Atlantic County, 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 county assessor and reflects the market value of the property. The local tax rate is applied to this assessed value to calculate the annual property tax bill. For homeowners in Williamstown, the property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $3,765, while at the 75th percentile, it rises to $5,236. The 90th percentile tax bill reaches $6,244. These figures indicate a substantial range in property tax liabilities, influenced by factors such as property size, location, and market conditions. Comparatively, the median property tax bill in the area stands at $4,439, which is notably higher than the national median property tax rate of 0.99%. This higher tax rate can significantly impact homeowners, affecting their overall cost of living and financial planning.
Average Williamstown Tax Bill
$4,439
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 Williamstown, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08094 | $3,213 | $3,765 | $4,439 | $5,236 | $6,244 |
Source: Ownwell