South Seaville, New Jersey Property Taxes
The median property tax rate in South Seaville, NJ is 1.48%, considerably higher than the national median of 0.99% but lower than the New Jersey state median of 2.82%. With the median home value in South Seaville, the typical annual property tax bill reaches $641, significantly below the national median of $2,690. Property taxes in South Seaville 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 South Seaville'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 South Seaville 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
South Seaville, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$633
$587
Ownwell’s South Seaville Property Tax Bill Calculator aids homeowners, real estate investors, and potential buyers in estimating their annual property taxes in South Seaville using just two data points. By inputting your property's estimated assessed value, the calculator applies the median tax rate in South Seaville to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across South Seaville, New Jersey
Property taxes in South Seaville, 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 South Seaville is 1.48%, significantly higher than the U.S. national median of 0.99%. Local government entities within South Seaville set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Seaville 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 South Seaville's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 08246 has both the highest and lowest median property tax rate of 1.48%. Understanding how these areas compare with South Seaville 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 South Seaville Tax Rate
1.48%
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 South Seaville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08246 | 1.48% | 1.48% | 1.48% | 1.48% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across South Seaville, New Jersey
In South Seaville, 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 South Seaville, 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. Being aware of these valuation processes in South Seaville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in South Seaville is $42,768, with median tax bills ranging from $548 to $3,238. The zip code with both the highest and lowest median tax bills is 08246, valued at $641.
Property Tax Assessment Values Across South Seaville, New Jersey
Source: Ownwell
$42,768
$949,934
$1,857,100
Average South Seaville Assessed Value
$42,768
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 South Seaville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08246 | $32,427 | $36,480 | $42,768 | $63,162 | $214,746 |
Source: Ownwell
Property Tax Bills Across South Seaville, New Jersey
In South Seaville, Cape May 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 the local assessor's office and is meant to reflect the market value of the property. Homeowners in South Seaville experience varying tax bills depending on the value of their property. For example, the 25th percentile tax bill is $548, while the 75th percentile tax bill reaches $944. At the higher end, the 90th percentile tax bill can soar to $3,238. This variation in tax bills significantly impacts homeowners, influencing their annual financial planning and the overall affordability of their homes. Compared to the national median property tax rate of 0.99%, South Seaville's rates can be seen as relatively high, which can place a financial strain on some residents. Understanding these factors is crucial for homeowners to anticipate their tax liabilities and manage their finances effectively.
Average South Seaville Tax Bill
$641
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 South Seaville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08246 | $482 | $548 | $641 | $944 | $3,238 |
Source: Ownwell