Tinton Falls, New Jersey Property Taxes
The median property tax rate in Tinton Falls, NJ is 1.65%, 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 Tinton Falls, the typical annual property tax bill reaches $6,706, significantly exceeding the national median of $2,690. Property taxes in Tinton Falls 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 Tinton Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Tinton Falls 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
Tinton Falls, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.65%
Estimate Property Tax Bill
$6,758
Ownwell’s Tinton Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tinton Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tinton Falls 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 Tinton Falls, New Jersey
Property taxes in Tinton Falls, New Jersey, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Tinton Falls is 1.65%, which is higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Tinton Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tinton Falls 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 Tinton Falls's effective property tax rate to other areas in Monmouth County and the national median. For comparison, the 07724 zip code has the highest median property tax rate of 1.67%, while the 07701 zip code has the lowest median tax rate of 1.61%. Understanding how these areas compare with Tinton Falls 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 Tinton Falls Tax Rate
1.65%
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 Tinton Falls, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07701 | 1.54% | 1.58% | 1.61% | 1.63% | 1.69% |
| 07712 | 1.57% | 1.61% | 1.64% | 1.68% | 1.72% |
| 07724 | 1.51% | 1.60% | 1.67% | 1.72% | 1.77% |
| 07727 | 1.51% | 1.54% | 1.66% | 1.83% | 1.97% |
| 07753 | 1.51% | 1.57% | 1.63% | 1.68% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Tinton Falls, New Jersey
In Tinton Falls, 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 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 Tinton Falls, 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 Tinton Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Monmouth County is $11,348 in zip code 07727, while the lowest is $5,711 in zip code 07753.
Property Tax Assessment Values Across Tinton Falls, New Jersey
Source: Ownwell
$214,800
$1,639,900
$3,065,000
Average Tinton Falls Assessed Value
$409,600
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 Tinton Falls, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07701 | $271,530 | $471,000 | $515,500 | $562,925 | $647,100 |
| 07712 | $278,230 | $320,875 | $392,750 | $480,400 | $613,440 |
| 07724 | $274,120 | $334,100 | $522,500 | $660,900 | $805,540 |
| 07727 | $399,850 | $544,200 | $706,750 | $798,125 | $881,450 |
| 07753 | $197,000 | $253,600 | $347,500 | $415,150 | $511,660 |
Source: Ownwell
Property Tax Bills Across Tinton Falls, New Jersey
In Tinton Falls, Monmouth County, NJ, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local tax assessor and aims to reflect the market value of the property. Homeowners in Tinton Falls face varying tax bills, heavily influenced by the assessed value and the local tax rate. For instance, the median home price in Tinton Falls is $409,600. Property tax bills in this area can range significantly, with the 25th percentile at $5,046 and the 75th percentile reaching $9,399. At the 90th percentile, homeowners can expect tax bills as high as $12,322. This variability highlights how property values and local tax rates interplay to determine the final tax bill. Comparatively, Monmouth County has one of the highest median tax bills in the region, with some zip codes like 07727 seeing median tax bills as high as $11,348, while others like 07753 have lower median tax bills around $5,711. This disparity can significantly impact homeowners, influencing their financial planning and property investment decisions.
Average Tinton Falls Tax Bill
$6,706
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 Tinton Falls, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07701 | $4,461 | $7,533 | $8,317 | $8,978 | $11,273 |
| 07712 | $4,450 | $5,189 | $6,356 | $7,889 | $10,301 |
| 07724 | $4,407 | $5,379 | $8,548 | $10,916 | $13,919 |
| 07727 | $7,073 | $8,762 | $11,348 | $12,200 | $15,055 |
| 07753 | $2,363 | $4,226 | $5,711 | $6,779 | $8,476 |
Source: Ownwell