Jamesburg, New Jersey Property Taxes
The median property tax rate in Jamesburg, NJ is 6.58%, 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 Jamesburg, the typical annual property tax bill reaches $7,852, exceeding the national median of $2,690. Property taxes in Jamesburg 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 Jamesburg'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 Jamesburg 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
Jamesburg, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
6.58%
Estimate Property Tax Bill
$8,205
Ownwell’s Jamesburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jamesburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jamesburg 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 Jamesburg, New Jersey
Property taxes in Jamesburg, NJ, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jamesburg is 6.58%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Jamesburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jamesburg 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 Jamesburg's effective property tax rate to other areas in Middlesex County and the national median. For comparison, the zip code 08831 has the highest median property tax rate of 6.58%, while the same zip code also has the lowest median tax rate of 6.58%. Understanding how these cities compare with Jamesburg provides valuable insights into the varying tax landscape across Middlesex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jamesburg Tax Rate
6.58%
Average Middlesex County Tax Rate
5.10%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jamesburg, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08831 | 2.67% | 5.96% | 6.58% | 6.58% | 6.58% |
Source: Ownwell
Property Tax Assessment Values Across Jamesburg, New Jersey
In Jamesburg, 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 Middlesex 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 Jamesburg, 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 Jamesburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 08831 has the highest and lowest median tax bill of $7,852.
Average Jamesburg Assessed Value
$124,700
Average Middlesex County Assessed Value
$158,000
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jamesburg, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08831 | $95,000 | $106,500 | $124,700 | $146,100 | $186,580 |
Source: Ownwell
Property Tax Bills Across Jamesburg, New Jersey
In Jamesburg, Middlesex County, NJ, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the property's market value, which is reassessed periodically to reflect changes in the real estate market. Various factors influence the tax bill, including the home's location, size, and condition, as well as local government budgets and public services funding needs. For homeowners in Jamesburg, the median home price is $124,700. Property tax bills can vary significantly, with the 25th percentile tax bill at $6,799 and the 75th percentile at $9,276. At the higher end, the 90th percentile tax bill reaches $11,301. The median tax bill in the zip code 08831 is $7,852, which is considerably higher than the national median property tax rate of 0.99%. These property taxes fund essential services such as schools, public safety, and infrastructure, thereby directly impacting the quality of life for residents.
Average Jamesburg Tax Bill
$7,852
Average Middlesex County Tax Bill
$7,840
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Jamesburg, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08831 | $5,218 | $6,799 | $7,852 | $9,276 | $11,301 |
Source: Ownwell