Sea Isle City, Cape May County, New Jersey Property Taxes
Median SEA ISLE CITY, NJ effective property tax rate: 0.51%, significantly lower than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median SEA ISLE CITY, NJ home value: $1,057,514
Median annual SEA ISLE CITY, NJ tax bill: $5,420, $3,020 higher than the national median property tax bill of $2,400.
How are property taxes in Cape May calculated?
Property taxes in SEA ISLE CITY, NJ are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding SEA ISLE CITY’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in SEA ISLE CITY, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Sea Isle City, Cape May County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.51%
Estimate Property Tax Bill
$5,393
$5,005
Property Tax Rates Across Sea Isle City, Cape May County, New Jersey
Local government entities are responsible for setting property tax rates, which can vary significantly within New Jersey. The process involves each county estimating its required budget for public services and dividing that by the total assessed value of all taxable property within its jurisdiction. This calculation determines the property tax rate. Although votes and legislation play roles in setting these rates and budgets, this is essentially how the process unfolds each year.
In Sea Isle City, located in Cape May County, the effective property tax rate stands at 0.51%. This rate is notably lower than the national median property tax rate of 1.02% and also serves as the median rate for the state of New Jersey. When compared to the national median property tax bill of $2,400, residents of Sea Isle City benefit from relatively lower property tax bills. Understanding these differences can be crucial for property owners looking to manage their expenses effectively.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Sea Isle City Tax Rate
0.51%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Cape May County Tax Rate
1.07%
Median Effective New Jersey Tax Rate
2.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Sea Isle City, Cape May County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08243 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Sea Isle City, Cape May County, New Jersey
When examining property taxes in Sea Isle City, NJ, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Cape May County appraisal authority estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Cape May County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Sea Isle City. For example, the median home price in Sea Isle City is $1,057,514, with tax bills ranging significantly across the county. Zip code 08243 has the highest median home price at $1,057,514.
Property Tax Assessment Values Across Sea Isle City, Cape May County, New Jersey
Source: Ownwell
$42,768
$949,934
$1,857,100
Median Sea Isle City Market Value
$1,057,514
Median Cape May County Market Value
$477,646
Median New Jersey Market Value
$282,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across Sea Isle City, Cape May County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08243 | $561,004 | $773,936 | $1,057,514 | $1,311,171 | $1,831,882 |
Source: Ownwell
Property Tax Bills Across Sea Isle City, Cape May County, New Jersey
Property Tax Bills Across Sea Isle City, Cape May County, New Jersey
Source: Ownwell
$641
$6,795
$12,949
Median Sea Isle City Tax Bill
$5,420
Median Cape May County Tax Bill
$5,051
Median New Jersey Tax Bill
$8,227
Median United States Tax Bill
$2,400
Property Tax Bills Across Sea Isle City, Cape May County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08243 | $2,876 | $3,961 | $5,420 | $6,724 | $9,430 |
Source: Ownwell