Bayville, Ocean County, New Jersey Property Taxes
Median Bayville, NJ effective property tax rate: 2.28%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Bayville, NJ home value: $260,450
Median annual Bayville, NJ tax bill: $5,827, $3,427 higher than the national median property tax bill of $2,400.
How are property taxes in Ocean calculated?
Property taxes in Bayville, NJ are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Bayville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bayville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Bayville, Ocean County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.28%
Estimate Property Tax Bill
$5,938
$5,511
Property Tax Rates Across Bayville, Ocean County, New Jersey
Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
In Bayville, located in Ocean County, New Jersey, the effective property tax rate is notably higher than the national median of 1.02%. This rate places Bayville among the areas with the highest property tax rates in the state. The local government's budgetary needs, coupled with the total assessed value of properties, contribute to this rate.
When compared to other cities in New Jersey, Bayville's property tax rate reflects the state's trend of having some of the highest property taxes in the country. This can be attributed to the essential services funded by these taxes, including education, public safety, and infrastructure maintenance. Understanding these rates is crucial for property owners, as it directly impacts annual tax bills and overall property affordability.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Bayville Tax Rate
2.28%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Ocean County Tax Rate
2.26%
Median Effective New Jersey Tax Rate
2.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Bayville, Ocean County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08721 | 2.07% | 2.23% | 2.28% | 2.28% | 2.28% |
Source: Ownwell
Property Tax Assessment Values Across Bayville, Ocean County, New Jersey
When examining property taxes in Bayville, NJ, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Ocean County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Ocean County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Bayville. For example, the median home price in Bayville is $260,450, with tax bills ranging significantly across the county. Zip code 08721 has the highest median home price at $260,450.
Property Tax Assessment Values Across Bayville, Ocean County, New Jersey
Source: Ownwell
$88,700
$589,800
$1,090,900
Median Bayville Market Value
$260,450
Median Ocean County Market Value
$281,800
Median New Jersey Market Value
$282,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across Bayville, Ocean County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08721 | $180,300 | $209,200 | $260,450 | $349,550 | $423,550 |
Source: Ownwell
Property Tax Bills Across Bayville, Ocean County, New Jersey
Median Bayville Tax Bill
$5,827
Median Ocean County Tax Bill
$5,983
Median New Jersey Tax Bill
$8,227
Median United States Tax Bill
$2,400
Property Tax Bills Across Bayville, Ocean County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08721 | $3,980 | $4,622 | $5,827 | $7,847 | $9,488 |
Source: Ownwell