Atlantic Highlands, New Jersey Property Taxes
The median property tax rate in Atlantic Highlands, NJ is 1.74%, 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 Atlantic Highlands, the typical annual property tax bill reaches $8,709, exceeding the national median of $2,690. Property taxes in Atlantic Highlands 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 Atlantic Highlands' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Atlantic Highlands 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
Atlantic Highlands, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.74%
Estimate Property Tax Bill
$8,924
Ownwell’s Atlantic Highlands Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Atlantic Highlands with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Atlantic Highlands 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 Atlantic Highlands, New Jersey
Property taxes in Atlantic Highlands, 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 Atlantic Highlands is 1.74%, significantly higher than the U.S. national median of 0.99%. Local government entities within Atlantic Highlands set these rates annually, and they can vary significantly across different neighborhoods. Each year, Atlantic Highlands 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 Atlantic Highlands' effective property tax rate to other counties in New Jersey and the national median. For comparison, the 07716 zip code has the highest median property tax rate of 1.74%, while the same zip code also has the lowest median tax rate of 1.74%. Understanding how these cities compare with Atlantic Highlands provides valuable insights into the varying tax landscape across Monmouth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Atlantic Highlands Tax Rate
1.74%
Average Monmouth County Tax Rate
1.86%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Atlantic Highlands, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07716 | 1.51% | 1.63% | 1.74% | 1.88% | 1.93% |
Source: Ownwell
Property Tax Assessment Values Across Atlantic Highlands, New Jersey
In Atlantic Highlands, 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 Monmouth County Assessor 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 Atlantic Highlands, 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. Atlantic Highlands has the highest and lowest median tax bills both at $8,709 in zip code 07716. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Atlantic Highlands, New Jersey
Source: Ownwell
$214,800
$1,639,900
$3,065,000
Average Atlantic Highlands Assessed Value
$512,900
Average Monmouth County Assessed Value
$467,900
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Atlantic Highlands, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07716 | $293,900 | $407,100 | $512,900 | $658,900 | $905,620 |
Source: Ownwell
Property Tax Bills Across Atlantic Highlands, New Jersey
In Atlantic Highlands, Monmouth County, NJ, property tax bills are determined by the assessed value of a property, which is an estimation of its market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. The median home price in Atlantic Highlands is $512,900, and the property tax rate in this area is notably higher than the national median of 0.99%. Several factors influence the tax bill, including the property's location, size, and condition. For instance, homeowners in the 25th percentile pay around $6,888 annually, while those in the 75th percentile face tax bills of approximately $11,744. At the 90th percentile, the tax bill can reach up to $16,563, reflecting the significant variation based on property value. For homeowners, these property taxes represent a substantial financial commitment, impacting their overall cost of living and potentially influencing decisions about buying or selling property in the area. The highest and lowest median tax bills in Atlantic Highlands both stand at $8,709, indicating a consistent tax burden across different properties.
Average Atlantic Highlands Tax Bill
$8,709
Average Monmouth County Tax Bill
$8,714
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Atlantic Highlands, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07716 | $5,040 | $6,888 | $8,709 | $11,744 | $16,563 |
Source: Ownwell