Clinton, New Jersey Property Taxes
The median property tax rate in Clinton, NJ is 3.07%, 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 Clinton, the typical annual property tax bill reaches $10,508, exceeding the national median of $2,690. Property taxes in Clinton 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 Clinton'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 Clinton 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
Clinton, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.07%
Estimate Property Tax Bill
$10,237
Ownwell’s Clinton Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Clinton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clinton to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities, making it easier to plan financially. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by Hunterdon County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Clinton, New Jersey
Property taxes in Clinton, New Jersey, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Clinton is 3.07%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities in Clinton set these rates annually, and they can vary across different neighborhoods. Each year, Clinton 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 Clinton's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08809 zip code has the highest median property tax rate of 3.07%, while the 08809 zip code also has the lowest median tax rate of 3.07%. Understanding how these cities compare with Clinton provides valuable insights into the varying tax landscape across Hunterdon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clinton Tax Rate
3.07%
Average Hunterdon County Tax Rate
2.66%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clinton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08809 | 2.81% | 3.03% | 3.07% | 3.23% | 3.23% |
Source: Ownwell
Property Tax Assessment Values Across Clinton, New Jersey
In Clinton, 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 Hunterdon 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 Clinton, 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 Clinton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 08809 has both the highest and lowest median tax bill, which is $10,508.
Average Clinton Assessed Value
$333,450
Average Hunterdon County Assessed Value
$364,050
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clinton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08809 | $109,990 | $126,000 | $333,450 | $445,350 | $537,230 |
Source: Ownwell
Property Tax Bills Across Clinton, New Jersey
In Clinton, NJ, located in Hunterdon County, 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, who evaluates the property’s market value and then applies an assessment ratio to determine the taxable value. This assessed value is then multiplied by the local tax rate, which is set annually by the local government to meet budgetary needs. Several factors influence the tax bill, including the property’s location, size, and any improvements made. For example, the median home price in Clinton is $333,450, and tax bills can vary widely. Homeowners in the 25th percentile can expect to pay around $3,864, while those in the 75th percentile may see bills as high as $13,594. The highest median tax bill in the area is $10,508, significantly above the national median property tax rate of 0.99%. These tax bills can have a substantial impact on homeowners, influencing their overall cost of living and financial planning.
Average Clinton Tax Bill
$10,508
Average Hunterdon County Tax Bill
$10,015
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Clinton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08809 | $3,374 | $3,864 | $10,508 | $13,594 | $16,289 |
Source: Ownwell