Dennisville, New Jersey Property Taxes
The median property tax rate in Dennisville, NJ is 1.52%, 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 Dennisville at $268,990, the typical annual property tax bill reaches $4,014, exceeding the national median of $2,690. Property taxes in Dennisville 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 Dennisville'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 Dennisville 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
Dennisville, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.52%
Estimate Property Tax Bill
$4,089
Ownwell’s Dennisville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dennisville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dennisville 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 Dennisville, New Jersey
Property taxes in Dennisville, 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 Dennisville is 1.52%, significantly higher than the U.S. national median of 0.99%. Local government entities within Dennisville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dennisville 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 Dennisville's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08214 zip code has the highest median property tax rate of 1.52%, while the same zip code also has the lowest median tax rate of 1.52%. Understanding how these cities compare with Dennisville provides valuable insights into the varying tax landscape across Cape May County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dennisville Tax Rate
1.52%
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 Dennisville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08214 | 1.45% | 1.52% | 1.52% | 1.52% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Dennisville, New Jersey
In Dennisville, 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 Cape May 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 Dennisville, 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. Dennisville's median home price stands at $268,990, with tax bills ranging from $3,333 at the 25th percentile to $5,888 at the 90th percentile. The highest and lowest median tax bills in the area are both $4,014, found in the 08214 zip code. 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 Dennisville, New Jersey
Source: Ownwell
$42,768
$949,934
$1,857,100
Average Dennisville Assessed Value
$268,990
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 Dennisville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08214 | $193,157 | $220,669 | $268,990 | $353,250 | $388,038 |
Source: Ownwell
Property Tax Bills Across Dennisville, New Jersey
In Dennisville, Cape May County, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $268,990, homeowners can expect varying tax bills. The 25th percentile tax bill stands at $3,333, while the 75th percentile reaches $5,260, and the 90th percentile goes up to $5,888. These tax bills are influenced by factors such as property location, home size, and market conditions. Homeowners in zip code 08214 experience a median tax bill of $4,014, which is notably higher than the national median property tax rate of 0.99%. This higher tax burden can impact homeowners by increasing their annual housing costs, potentially affecting their overall financial planning and stability. Understanding these nuances helps residents anticipate and manage their property tax obligations effectively.
Average Dennisville Tax Bill
$4,014
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 Dennisville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08214 | $2,931 | $3,333 | $4,014 | $5,260 | $5,888 |
Source: Ownwell