Glen Gardner, New Jersey Property Taxes
The median property tax rate in Glen Gardner, NJ is 2.56%, 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 Glen Gardner at $312,300, the typical annual property tax bill reaches $8,654, significantly exceeding the national median of $2,690. Property taxes in Glen Gardner 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 Glen Gardner'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 Glen Gardner 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
Glen Gardner, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.56%
Estimate Property Tax Bill
$7,995
Ownwell’s GLEN GARDNER Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in GLEN GARDNER with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in GLEN GARDNER 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 Glen Gardner, New Jersey
Property taxes in Glen Gardner, New Jersey, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glen Gardner is 2.56%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Glen Gardner set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glen Gardner 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 Glen Gardner's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08826 zip code has the highest median property tax rate of 2.56%, while the 08826 zip code also has the lowest median tax rate of 2.56%. Understanding how these cities compare with Glen Gardner 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 Glen Gardner Tax Rate
2.56%
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 Glen Gardner, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08826 | 2.56% | 2.56% | 2.56% | 3.66% | 3.66% |
Source: Ownwell
Property Tax Assessment Values Across Glen Gardner, New Jersey
In Glen Gardner, 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 local 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 Glen Gardner, 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 Glen Gardner helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 08826, with a median tax bill of $8,654. This figure is significantly higher than the national median property tax rate of 0.99%, highlighting the importance of understanding and managing your property tax obligations effectively.
Property Tax Assessment Values Across Glen Gardner, New Jersey
Source: Ownwell
$145,500
$560,200
$974,900
Average Glen Gardner Assessed Value
$312,300
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 Glen Gardner, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08826 | $124,200 | $186,400 | $312,300 | $419,200 | $526,580 |
Source: Ownwell
Property Tax Bills Across Glen Gardner, New Jersey
In Glen Gardner, Hunterdon 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 local assessors who evaluate the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For Glen Gardner, the tax rate is significantly higher than the national median property tax rate of 0.99%, leading to substantial tax bills for homeowners. Homeowners in Glen Gardner can expect a wide range of property tax bills. The 25th percentile tax bill is around $5,878, while the 75th percentile tax bill reaches $11,461. At the 90th percentile, homeowners may face tax bills as high as $14,232. The median home price in Glen Gardner is $312,300, which contributes to these substantial tax bills. These high property taxes can significantly impact homeowners, influencing their overall cost of living and potentially affecting property values in the long term.
Average Glen Gardner Tax Bill
$8,654
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 Glen Gardner, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08826 | $4,526 | $5,878 | $8,654 | $11,461 | $14,232 |
Source: Ownwell