Cape May County, New Jersey Property Taxes
The median property tax rate in Cape May County is 1.07%, which is significantly higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With the median home value in Cape May County, the typical annual property tax bill reaches $5,051, which exceeds the national median of $2,690. Property taxes in Cape May County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Cape May County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Cape May or another part of Cape May County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cape May County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$5,111
$4,743
Ownwell’s Cape May Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Cape May with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Cape May to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Cape May County, New Jersey
Property taxes in Cape May play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Cape May is 1.07%, which is higher than the U.S. national median of 0.99%. Local government entities within Cape May set these rates annually, and they can vary significantly between different areas within the county. Each year, Cape May estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Cape May's effective property tax rate with other counties in the U.S. For comparison, the city of Green Creek has one of the higher property tax rates at 1.78%, while the city of Avalon boasts one of the lowest at 0.41%. Analyzing how Cape May's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Cape May County Tax Rate
1.07%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cape May County, New Jersey
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Avalon | 0.41% | 0.41% | 0.41% | 0.41% | 0.41% |
| Cape May | 0.72% | 0.72% | 1.30% | 1.30% | 1.31% |
| Cape May Ch | 1.37% | 1.48% | 1.48% | 1.48% | 1.48% |
| Cape May Court House | 1.48% | 1.69% | 1.69% | 1.69% | 1.74% |
| Cape May Point | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
| Corbin City | 1.61% | 1.61% | 1.61% | 1.65% | 1.68% |
| Del Haven | 1.71% | 1.78% | 1.78% | 1.78% | 1.78% |
| Dennis Twp | N/A | N/A | N/A | N/A | N/A |
| Dennisville | 1.45% | 1.52% | 1.52% | 1.52% | 1.52% |
| Green Creek | N/A | N/A | N/A | N/A | N/A |
| Marmora | 1.61% | 1.61% | 1.61% | 1.61% | 1.61% |
| North Cape May | 1.30% | 1.30% | 1.30% | 1.30% | 1.30% |
| North Wildwood | 1.07% | 1.07% | 1.07% | 1.07% | 1.07% |
| Ocean City | 0.72% | 0.72% | 0.72% | 0.72% | 0.72% |
| Ocean View | 1.48% | 1.48% | 1.61% | 1.61% | 1.61% |
| Rio Grande | 1.64% | 1.72% | 1.72% | 1.72% | 1.72% |
| Sea Isle City | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
| South Dennis | N/A | N/A | N/A | N/A | N/A |
| South Seaville | 1.48% | 1.48% | 1.48% | 1.48% | 1.48% |
| Stone Harbor | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
| Strathmere | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% |
| Tuckahoe | N/A | N/A | N/A | N/A | N/A |
| Villas | 1.30% | 1.30% | 1.30% | 1.30% | 1.68% |
| West Cape May | 0.88% | 0.88% | 0.88% | 0.88% | 0.88% |
| West Wildwood | 1.07% | 1.27% | 1.27% | 1.27% | 1.27% |
| Wildwood | 1.06% | 1.06% | 1.07% | 1.31% | 1.93% |
| Wildwood Crest | N/A | N/A | N/A | N/A | N/A |
| Woodbine | 1.52% | 1.54% | 1.65% | 1.68% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Cape May County, New Jersey
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Cape May. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Cape May Appraisal District. The assessed value, however, 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. Assessment notices in Cape May are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Strathmere has the highest median tax bill at $12,949, while South Seaville has the lowest at $641. Being aware of these valuation processes in Cape May will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Cape May County, New Jersey
Source: Ownwell
$42,768
$949,934
$1,857,100
Average Cape May County Assessed Value
$477,646
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cape May County, New Jersey
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Avalon | $681,316 | $1,078,820 | $1,847,644 | $3,098,488 | $4,504,947 |
| Cape May | $240,982 | $292,249 | $436,455 | $738,143 | $1,154,588 |
| Cape May Ch | $203,256 | $212,882 | $231,457 | $287,214 | $322,955 |
| Cape May Court House | $113,795 | $225,201 | $293,034 | $378,900 | $470,266 |
| Cape May Point | $755,169 | $874,963 | $1,015,906 | $1,174,264 | $1,530,074 |
| Corbin City | $39,934 | $267,952 | $301,072 | $428,262 | $516,085 |
| Del Haven | $229,929 | $239,398 | $263,587 | $401,230 | $589,691 |
| Dennis Twp | N/A | N/A | N/A | N/A | N/A |
| Dennisville | $193,157 | $220,669 | $268,990 | $353,250 | $388,038 |
| Green Creek | N/A | N/A | N/A | N/A | N/A |
| Marmora | $95,263 | $175,309 | $315,664 | $398,805 | $517,171 |
| North Cape May | $748,458 | $783,730 | $851,727 | $1,097,007 | $1,237,238 |
| North Wildwood | $124,020 | $249,466 | $351,104 | $537,135 | $601,255 |
| Ocean City | $349,339 | $531,292 | $749,963 | $1,053,516 | $1,650,364 |
| Ocean View | $60,267 | $114,132 | $320,891 | $408,443 | $514,430 |
| Rio Grande | $180,137 | $215,330 | $267,609 | $297,709 | $345,357 |
| Sea Isle City | $561,004 | $773,936 | $1,057,514 | $1,311,171 | $1,831,882 |
| South Dennis | N/A | N/A | N/A | N/A | N/A |
| South Seaville | $32,427 | $36,480 | $42,768 | $63,162 | $214,746 |
| Stone Harbor | $632,993 | $930,877 | $1,857,100 | $3,196,488 | $4,466,452 |
| Strathmere | $521,270 | $626,850 | $833,447 | $1,168,726 | $1,579,558 |
| Tuckahoe | N/A | N/A | N/A | N/A | N/A |
| Villas | $169,455 | $191,851 | $228,549 | $287,222 | $374,521 |
| West Cape May | $471,842 | $607,001 | $751,170 | $936,060 | $1,020,274 |
| West Wildwood | $197,127 | $240,352 | $322,754 | $478,718 | $542,837 |
| Wildwood | $184,064 | $269,612 | $399,002 | $562,544 | $718,736 |
| Wildwood Crest | N/A | N/A | N/A | N/A | N/A |
| Woodbine | $51,141 | $104,430 | $218,826 | $317,429 | $430,705 |
Source: Ownwell
Property Tax Bills Across Cape May County, New Jersey
In Cape May County, NJ, 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 property tax rate to determine the annual tax bill. For instance, with a median home price of $477,646, homeowners can expect varying tax bills depending on their specific property’s assessed value and location. The tax bill can range significantly within the county. At the 25th percentile, the tax bill is around $3,467, while at the 75th percentile, it rises to about $7,002. For those at the 90th percentile, the tax bill can escalate to approximately $10,533. Strathmere holds the highest median tax bill at $12,949, whereas South Seaville has the lowest median tax bill at $641. These calculations profoundly impact homeowners, influencing decisions on home purchases and budgeting. Comparing the county's tax rates to the national median property tax rate of 0.99% highlights the variability and potential financial implications for residents.
Average Cape May County Tax Bill
$5,051
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Cape May County, New Jersey
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Avalon | $3,042 | $4,819 | $8,148 | $13,220 | $18,737 |
| Cape May | $3,052 | $3,624 | $4,756 | $6,806 | $9,748 |
| Cape May Ch | $2,908 | $3,130 | $3,404 | $4,263 | $4,794 |
| Cape May Court House | $1,941 | $3,707 | $4,831 | $6,311 | $7,830 |
| Cape May Point | $3,734 | $4,323 | $5,026 | $5,809 | $7,590 |
| Corbin City | $670 | $4,384 | $4,905 | $6,884 | $8,296 |
| Del Haven | $3,991 | $4,241 | $4,681 | $7,125 | $9,305 |
| Dennis Twp | N/A | N/A | N/A | N/A | N/A |
| Dennisville | $2,931 | $3,333 | $4,014 | $5,260 | $5,888 |
| Green Creek | N/A | N/A | N/A | N/A | N/A |
| Marmora | $1,531 | $2,817 | $5,045 | $6,392 | $8,299 |
| North Cape May | $9,748 | $10,207 | $11,092 | $14,287 | $16,113 |
| North Wildwood | $1,322 | $2,658 | $3,741 | $5,621 | $6,611 |
| Ocean City | $2,514 | $3,822 | $5,400 | $7,593 | $11,894 |
| Ocean View | $942 | $1,694 | $5,106 | $6,518 | $8,247 |
| Rio Grande | $3,066 | $3,652 | $4,521 | $5,103 | $5,843 |
| Sea Isle City | $2,876 | $3,961 | $5,420 | $6,724 | $9,430 |
| South Dennis | N/A | N/A | N/A | N/A | N/A |
| South Seaville | $482 | $548 | $641 | $944 | $3,238 |
| Stone Harbor | $3,286 | $5,150 | $9,934 | $15,824 | $21,939 |
| Strathmere | $8,099 | $9,704 | $12,949 | $18,158 | $24,542 |
| Tuckahoe | N/A | N/A | N/A | N/A | N/A |
| Villas | $2,213 | $2,532 | $3,064 | $3,910 | $5,067 |
| West Cape May | $4,694 | $5,328 | $6,594 | $8,216 | $8,956 |
| West Wildwood | $2,818 | $3,121 | $4,109 | $5,363 | $6,874 |
| Wildwood | $2,122 | $3,474 | $5,284 | $6,770 | $8,451 |
| Wildwood Crest | N/A | N/A | N/A | N/A | N/A |
| Woodbine | $854 | $1,584 | $3,510 | $5,084 | $6,978 |
Source: Ownwell