Tuckerton, New Jersey Property Taxes
The median property tax rate in Tuckerton, NJ is 2.30%, significantly higher than both the national median of 0.99% and New Jersey's state median of 2.82%. With the median home value in Tuckerton at $196,500, the typical annual property tax bill reaches $4,518, far exceeding the national median of $2,690. Property taxes in Tuckerton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Tuckerton'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 Tuckerton 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
Tuckerton, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.3%
Estimate Property Tax Bill
$4,520
$4,194
Ownwell’s Tuckerton Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Tuckerton with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Tuckerton to provide an accurate estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities, making it easier to manage your budget and financial planning. 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 for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Tuckerton, New Jersey
Property taxes in Tuckerton, New Jersey, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Tuckerton 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 Tuckerton set these rates annually, and they can vary across different neighborhoods. Each year, Tuckerton 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 Tuckerton's effective property tax rate to other areas in New Jersey and the national median. For comparison, the 08087 zip code has the highest median property tax rate of 2.30%, while it also has the lowest median tax rate of 2.30%. Understanding how these figures compare with Tuckerton 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 Tuckerton 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 Tuckerton, 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 Tuckerton, New Jersey
In Tuckerton, 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 Burlington 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 Tuckerton, 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. The median home price in Tuckerton is $196,500, with property tax bills ranging from $3,434 at the 25th percentile to $8,367 at the 90th percentile. The highest and lowest median tax bills in the area are both $4,518, found in the 08087 zip code. 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 Tuckerton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tuckerton Assessed Value
$196,500
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 Tuckerton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08087 | $129,800 | $149,350 | $196,500 | $272,800 | $363,940 |
Source: Ownwell
Property Tax Bills Across Tuckerton, New Jersey
In Tuckerton, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements or renovations made to the property. Homeowners in Tuckerton face a median property tax bill of $4,518, which is significantly higher than the national median property tax rate of 0.99%. With median home prices around $196,500, the tax burden can be substantial. For example, tax bills in the 25th percentile are approximately $3,434, while those in the 75th percentile can reach $6,272. At the 90th percentile, homeowners might pay up to $8,367 annually. These high property taxes can affect homeowners by increasing their overall housing costs and potentially impacting their ability to afford other expenses.
Average Tuckerton Tax Bill
$4,518
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 Tuckerton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08087 | $2,982 | $3,434 | $4,518 | $6,272 | $8,367 |
Source: Ownwell