Little Egg Harbor Twp, New Jersey Property Taxes
The median property tax rate in Little Egg Harbor Twp, NJ is 2.30%, 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 Little Egg Harbor Twp at $179,800, the typical annual property tax bill reaches $4,134, exceeding the national median of $2,690. Property taxes in Little Egg Harbor Twp 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 Little Egg Harbor Twp'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 Little Egg Harbor Twp 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
Little Egg Harbor Twp, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.3%
Estimate Property Tax Bill
$4,135
$3,838
Ownwell’s Little Egg Harbor Twp Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Little Egg Harbor Twp with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Little Egg Harbor Twp 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 Little Egg Harbor Twp, New Jersey
Property taxes in Little Egg Harbor Township, NJ, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Little Egg Harbor Township is 2.30%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Little Egg Harbor Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Little Egg Harbor Township 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 Little Egg Harbor Township's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08087 zip code has the highest median property tax rate of 2.30%, while the 08087 zip code also has the lowest median tax rate of 2.30%. Understanding how these cities compare with Little Egg Harbor Township provides valuable insights into the varying tax landscape across Burlington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Little Egg Harbor Twp Tax Rate
2.30%
Average Burlington County Tax Rate
3.07%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Little Egg Harbor Twp, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08087 | 2.30% | 2.30% | 2.30% | 2.30% | 2.30% |
Source: Ownwell
Property Tax Assessment Values Across Little Egg Harbor Twp, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Little Egg Harbor Township, NJ. 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 local authorities 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 Little Egg Harbor Township, 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 the area is $179,800, with median tax bills ranging from $3,903 to $4,785. The zip code 08087 has both the highest and lowest median tax bill at $4,134. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Little Egg Harbor Twp, New Jersey
Source: Ownwell
$151,800
$279,500
$407,200
Average Little Egg Harbor Twp Assessed Value
$179,800
Average Burlington County Assessed Value
$210,600
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Little Egg Harbor Twp, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08087 | $135,060 | $169,750 | $179,800 | $203,650 | $208,120 |
Source: Ownwell
Property Tax Bills Across Little Egg Harbor Twp, New Jersey
In Little Egg Harbor Township, located in Burlington 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 local assessors who evaluate the property's market value and apply an assessment ratio. This ratio helps to ensure that assessments are uniform across the township. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. Factors considered in the assessment include the property's location, size, and condition, as well as recent sales of comparable properties in the area. Homeowners in Little Egg Harbor Township face a median property tax bill of $4,134, which is significantly higher than the national median property tax rate of 0.99%. For instance, those in the 25th percentile pay around $3,903, while those in the 75th percentile pay approximately $4,682. High property taxes can impact homeowners by increasing their overall cost of living and potentially affecting property values.
Average Little Egg Harbor Twp Tax Bill
$4,134
Average Burlington County Tax Bill
$6,846
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Little Egg Harbor Twp, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08087 | $3,105 | $3,903 | $4,134 | $4,682 | $4,785 |
Source: Ownwell