Pine Beach, New Jersey Property Taxes
The median property tax rate in Pine Beach, NJ is 2.61%, 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 Pine Beach, the typical annual property tax bill reaches $6,120, exceeding the national median of $2,690. Property taxes in Pine Beach 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 Pine Beach'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 Pine Beach 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
Pine Beach, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.61%
Estimate Property Tax Bill
$6,413
Ownwell’s Pine Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pine Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pine Beach 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 Pine Beach, New Jersey
Property taxes in Pine Beach, New Jersey, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pine Beach is 2.61%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Pine Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pine Beach 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 Pine Beach's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 08741 has the highest median property tax rate of 2.61%, while the lowest median tax rate is also found in the same zip code at 2.61%. Understanding how these cities compare with Pine Beach provides valuable insights into the varying tax landscape across Ocean County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pine Beach Tax Rate
2.61%
Average Ocean County Tax Rate
2.26%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pine Beach, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08741 | 2.28% | 2.50% | 2.61% | 2.61% | 2.61% |
Source: Ownwell
Property Tax Assessment Values Across Pine Beach, New Jersey
In Pine Beach, 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 Ocean 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 Pine Beach, 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 Pine Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $6,120, found in zip code 08741.
Property Tax Assessment Values Across Pine Beach, New Jersey
Source: Ownwell
$88,700
$589,800
$1,090,900
Average Pine Beach Assessed Value
$245,700
Average Ocean County Assessed Value
$281,800
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pine Beach, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08741 | $178,420 | $207,450 | $245,700 | $314,250 | $400,580 |
Source: Ownwell
Property Tax Bills Across Pine Beach, New Jersey
In Pine Beach, NJ, located in Ocean County, 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 is meant to reflect the property's market value. The tax rate, expressed as a percentage, is then applied to this assessed value to calculate the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition, as well as recent sales of comparable properties in the area. In Pine Beach, the median home price stands at $245,700. Homeowners in this region can expect varying tax bills, with the 25th percentile at $5,234 and the 75th percentile at $7,855. The 90th percentile reaches up to $9,932, indicating a significant range based on property characteristics. These property taxes fund essential public services such as schools, roads, and emergency services, directly impacting the quality of life for Pine Beach residents. Compared to the national median property tax rate of 0.99%, Pine Beach homeowners experience relatively higher property taxes, reflecting the local funding requirements and property values.
Average Pine Beach Tax Bill
$6,120
Average Ocean County Tax Bill
$5,983
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Pine Beach, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08741 | $4,489 | $5,234 | $6,120 | $7,855 | $9,932 |
Source: Ownwell