Clayton, New Jersey Property Taxes
The median property tax rate in Clayton, NJ is 3.07%, 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 Clayton at $198,197, the typical annual property tax bill reaches $6,080, far exceeding the national median of $2,690. Property taxes in Clayton are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Clayton'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 Clayton 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
Clayton, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.07%
Estimate Property Tax Bill
$6,085
Ownwell’s Clayton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clayton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clayton 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 Clayton, New Jersey
Property taxes in Clayton, 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 Clayton is 3.07%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Clayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clayton 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 Clayton's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08312 zip code has the highest median property tax rate of 3.07%, while the lowest median tax rate is also 3.07% in the same zip code. Understanding how these cities compare with Clayton provides valuable insights into the varying tax landscape across Gloucester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clayton Tax Rate
3.07%
Average Gloucester County Tax Rate
2.83%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clayton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08312 | 3.07% | 3.07% | 3.07% | 3.07% | 3.07% |
Source: Ownwell
Property Tax Assessment Values Across Clayton, New Jersey
In Clayton, 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 Gloucester County Assessor 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 Clayton, 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 Clayton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 08312 has the highest median tax bill, standing at $6,080, which is significantly higher than the national median property tax rate of 0.99%.
Average Clayton Assessed Value
$198,197
Average Gloucester County Assessed Value
$246,529
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clayton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08312 | $133,492 | $161,631 | $198,197 | $247,103 | $287,914 |
Source: Ownwell
Property Tax Bills Across Clayton, New Jersey
In Clayton, Gloucester 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 tax assessor and reflects a percentage of the home's market value. Homeowners in Clayton face tax bills that vary significantly, with the 25th percentile at $4,957 and the 75th percentile at $7,582. The highest median tax bill recorded in the area is $6,080, while the lowest is also $6,080, indicating a consistent median rate across different parts of the city. These tax bills are influenced by several factors, including property size, location, and any applicable exemptions or deductions. For homeowners, this means that property taxes can represent a substantial portion of their annual expenses, impacting their overall cost of living. Compared to the national median property tax rate of 0.99%, Clayton's property tax rates can be relatively high, making it essential for homeowners to understand how their tax bills are determined and to explore potential ways to reduce their tax burden.
Average Clayton Tax Bill
$6,080
Average Gloucester County Tax Bill
$7,106
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Clayton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08312 | $4,094 | $4,957 | $6,080 | $7,582 | $8,836 |
Source: Ownwell