Point Pleasant Beach, New Jersey Property Taxes
The median property tax rate in Point Pleasant Beach, NJ is 1.62%, 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 Point Pleasant Beach at $487,550, the typical annual property tax bill reaches $7,862, exceeding the national median of $2,690. Property taxes in Point Pleasant 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 Point Pleasant 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 Point Pleasant 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
Point Pleasant Beach, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.62%
Estimate Property Tax Bill
$7,898
Ownwell’s Point Pleasant Beach Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Point Pleasant Beach with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Point Pleasant Beach to provide an estimate of 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 Point Pleasant Beach, New Jersey
Property taxes in Point Pleasant Beach, 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 Point Pleasant Beach is 1.62%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Point Pleasant Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Point Pleasant 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 Point Pleasant Beach's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08742 zip code has the highest median property tax rate of 1.62%, while the same zip code also has the lowest median tax rate of 1.62%. Understanding how these cities compare with Point Pleasant 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 Point Pleasant Beach Tax Rate
1.62%
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 Point Pleasant Beach, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08742 | 1.57% | 1.62% | 1.62% | 1.62% | 1.95% |
Source: Ownwell
Property Tax Assessment Values Across Point Pleasant Beach, New Jersey
In Point Pleasant 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 Point Pleasant 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. The median home price in Point Pleasant Beach is $487,550, with tax bills ranging from $6,211 at the 25th percentile to $13,378 at the 90th percentile. Notably, the zip code 08742 has the highest and lowest median tax bill at $7,862. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Point Pleasant Beach, New Jersey
Source: Ownwell
$88,700
$589,800
$1,090,900
Average Point Pleasant Beach Assessed Value
$487,550
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 Point Pleasant Beach, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08742 | $271,200 | $373,175 | $487,550 | $639,925 | $826,950 |
Source: Ownwell
Property Tax Bills Across Point Pleasant Beach, New Jersey
In Point Pleasant Beach, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Ocean County. The assessed value is determined by the county assessor and is meant to reflect the property's market value. Homeowners in this area face a notable property tax burden, with the median home price at $487,550. Property tax bills can vary significantly, with the 25th percentile at $6,211 and the 75th percentile reaching $10,289. The 90th percentile sees tax bills as high as $13,378. These tax bills are influenced by various factors, including changes in local government budgets, school funding requirements, and infrastructure needs. Compared to the national median property tax rate of 0.99%, the property tax rate in Point Pleasant Beach is considerably higher, impacting homeowners' financial planning and overall cost of living. This higher tax rate underscores the importance of understanding local tax policies and their implications for long-term property ownership.
Average Point Pleasant Beach Tax Bill
$7,862
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 Point Pleasant Beach, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08742 | $4,761 | $6,211 | $7,862 | $10,289 | $13,378 |
Source: Ownwell