West Cape May, Cape May County, New Jersey Property Taxes
Median West Cape May, NJ effective property tax rate: 0.88%, significantly lower than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median West Cape May, NJ home value: $751,170
Median annual West Cape May, NJ tax bill: $6,594, $4,194 higher than the national median property tax bill of $2,400.
How are property taxes in Cape May calculated?
Property taxes in West Cape May, 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 West Cape May’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in West Cape May, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
West Cape May, Cape May County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.88%
Estimate Property Tax Bill
$6,610
$6,134
Property Tax Rates Across West Cape May, Cape May County, New Jersey
Local government entities in New Jersey set tax rates, which can vary widely within the state. This is because each county estimates its required budget annually to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.
In West Cape May, located in Cape May County, the effective property tax rate stands at 0.88%. This is notably lower than the national median property tax rate of 1.02%. Comparatively, the property tax rate in West Cape May is consistent with the lowest and highest median tax rates within the zip code 08204, which also stands at 0.88%. This makes West Cape May an appealing location for property owners looking for a more favorable tax rate compared to other areas in New Jersey and across the U.S. The lower tax rate can be an attractive factor for potential homeowners and investors, providing a financial advantage in terms of annual property tax bills.
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 West Cape May Tax Rate
0.88%
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 West Cape May, Cape May County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08204 | 0.88% | 0.88% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across West Cape May, Cape May County, New Jersey
When examining property taxes in West Cape May, 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 district 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.
Assessment notices:
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 West Cape May.
For example, the median home price in West Cape May is $751,170, with tax bills ranging significantly across the county. 08204 has the highest median home price at $751,170.
Property Tax Assessment Values Across West Cape May, Cape May County, New Jersey
Source: Ownwell
$42,768
$949,934
$1,857,100
Median West Cape May Market Value
$751,170
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 West Cape May, Cape May County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08204 | $471,842 | $607,001 | $751,170 | $936,060 | $1,020,274 |
Source: Ownwell
Property Tax Bills Across West Cape May, Cape May County, New Jersey
Property Tax Bills Across West Cape May, Cape May County, New Jersey
Source: Ownwell
$641
$6,795
$12,949
Median West Cape May Tax Bill
$6,594
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 West Cape May, Cape May County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08204 | $4,694 | $5,328 | $6,594 | $8,216 | $8,956 |
Source: Ownwell