North Brunswick, New Jersey Property Taxes
The median property tax rate in North Brunswick, NJ is 6.01%, 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 North Brunswick, the typical annual property tax bill reaches $8,600, exceeding the national median of $2,690. Property taxes in North Brunswick 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 North Brunswick'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 North Brunswick 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
North Brunswick, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
6.01%
Estimate Property Tax Bill
$9,075
$8,421
Ownwell’s North Brunswick Property Tax Bill Calculator assists homeowners, real estate investors, and potential owners in estimating their annual property taxes in North Brunswick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Brunswick 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 North Brunswick, New Jersey
Property taxes in North Brunswick, New Jersey, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Brunswick is 6.01%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within North Brunswick set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Brunswick 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 North Brunswick's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08902 zip code has the highest median property tax rate of 6.01%, while the same zip code also has the lowest median tax rate of 6.01%. Understanding how these cities compare with North Brunswick 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 North Brunswick Tax Rate
6.01%
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 North Brunswick, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08902 | 5.05% | 5.78% | 6.01% | 6.01% | 6.01% |
Source: Ownwell
Property Tax Assessment Values Across North Brunswick, New Jersey
In North Brunswick, 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 North Brunswick, 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 North Brunswick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 08902 has the highest and lowest median tax bill at $8,600, offering a consistent point of reference for local property owners.
Property Tax Assessment Values Across North Brunswick, New Jersey
Source: Ownwell
$66,600
$322,300
$578,000
Average North Brunswick Assessed Value
$151,000
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 North Brunswick, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08902 | $89,700 | $110,975 | $151,000 | $203,000 | $254,500 |
Source: Ownwell
Property Tax Bills Across North Brunswick, New Jersey
Property tax bills in North Brunswick, located in Middlesex County, NJ, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the local tax assessor. Several factors influence the assessed value, including the property's location, size, and condition. In North Brunswick, the tax bills can vary significantly. For instance, the 25th percentile tax bill is around $6,148, while the 75th percentile tax bill reaches approximately $11,840. Homeowners in the 90th percentile can expect to pay up to $14,965. These figures are notably higher than the national median property tax rate of 0.99%, reflecting the region's higher property values and tax rates. For homeowners, these taxes represent a significant annual expense, impacting their overall cost of living and potentially influencing decisions related to buying, selling, or investing in property within the area.
Average North Brunswick Tax Bill
$8,600
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 North Brunswick, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08902 | $4,973 | $6,148 | $8,600 | $11,840 | $14,965 |
Source: Ownwell