South Amboy, New Jersey Property Taxes
The median property tax rate in South Amboy, NJ is 4.65%, 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 South Amboy, the typical annual property tax bill reaches $7,003, exceeding the national median of $2,690. Property taxes in South Amboy 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 South Amboy'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 South Amboy 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
South Amboy, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.65%
Estimate Property Tax Bill
$7,570
$7,025
Ownwell’s South Amboy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Amboy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Amboy 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 Middlesex County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across South Amboy, New Jersey
Property taxes in South Amboy, 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 South Amboy is 4.65%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within South Amboy set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Amboy 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 South Amboy's effective property tax rate to other areas in New Jersey and the national median. For comparison, the 08879 zip code has the highest median property tax rate of 4.65%, while the same zip code also has the lowest median tax rate of 4.65%. Understanding how these areas compare with South Amboy 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 South Amboy Tax Rate
4.65%
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 South Amboy, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08879 | 2.76% | 2.93% | 4.65% | 5.35% | 5.54% |
Source: Ownwell
Property Tax Assessment Values Across South Amboy, New Jersey
In South Amboy, 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 South Amboy, 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 South Amboy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in South Amboy is $162,800, with the median tax bill reaching $7,003 in the 08879 zip code.
Average South Amboy Assessed Value
$162,800
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 South Amboy, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08879 | $89,000 | $121,200 | $162,800 | $247,875 | $307,900 |
Source: Ownwell
Property Tax Bills Across South Amboy, New Jersey
Property tax bills in South Amboy, located in Middlesex County, NJ, are determined by assessing the value of a property and applying the local tax rate. The assessed value is based on the market value of the home, which in South Amboy has a median home price of $162,800. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Homeowners in South Amboy can expect their tax bills to vary significantly. For example, those in the 25th percentile pay around $5,604, while those in the 75th percentile face bills of approximately $8,345. At the 90th percentile, tax bills can reach up to $10,157. The highest and lowest median tax bills in the area are both $7,003, found in the 08879 zip code. These property taxes fund essential public services such as schools, emergency services, and infrastructure, directly impacting the quality of life for homeowners. Given the national median property tax rate of 0.99%, South Amboy's rates are considerably higher, reflecting the region's reliance on property taxes to support local services.
Average South Amboy Tax Bill
$7,003
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 South Amboy, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08879 | $3,984 | $5,604 | $7,003 | $8,345 | $10,157 |
Source: Ownwell