Point Pleasant Boro, Ocean County, New Jersey Property Taxes
The median property tax rate in Point Pleasant Boro, NJ is 2.14%, 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 Boro at $330,650, the typical annual property tax bill reaches $6,893, exceeding the national median of $2,690. Property taxes in Point Pleasant Boro are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Point Pleasant Boro'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 Boro 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 Boro, Ocean County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.14%
Estimate Property Tax Bill
$7,076
$6,566
Ownwell’s Point Pleasant Boro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Point Pleasant Boro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Point Pleasant Boro 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 Point Pleasant Boro, Ocean County, New Jersey
Property taxes in Point Pleasant Boro, New Jersey, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Point Pleasant Boro is 2.14%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Point Pleasant Boro set these rates annually, and they can vary across different neighborhoods. Each year, Point Pleasant Boro 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 Boro's effective property tax rate to other areas in Ocean County and the national median. For comparison, the zip code 08742 has the highest median property tax rate of 2.14%, while the same zip code also has the lowest median tax rate of 2.14%. Understanding how these areas compare with Point Pleasant Boro 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.
Property Tax Rates Across Point Pleasant Boro, Ocean County, New Jersey
Source: Ownwell
0.83%
2.04%
3.25%
Average Point Pleasant Boro Tax Rate
2.14%
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 Boro, Ocean County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08742 | 1.75% | 2.13% | 2.14% | 2.14% | 2.14% |
Source: Ownwell
Property Tax Assessment Values Across Point Pleasant Boro, Ocean County, New Jersey
In Point Pleasant Boro, 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 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 Point Pleasant Boro, 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 Boro is $330,650, with property tax bills ranging from $5,768 at the 25th percentile to $12,932 at the 90th percentile. The highest and lowest median tax bills, both at $6,893, are found in zip code 08742. 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 their tax burden.
Property Tax Assessment Values Across Point Pleasant Boro, Ocean County, New Jersey
Source: Ownwell
$88,700
$589,800
$1,090,900
Average Point Pleasant Boro Assessed Value
$330,650
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 Boro, Ocean County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08742 | $249,200 | $279,875 | $330,650 | $436,800 | $610,450 |
Source: Ownwell
Property Tax Bills Across Point Pleasant Boro, Ocean County, New Jersey
In Point Pleasant Boro, Ocean County, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor's office and is intended to reflect the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in Point Pleasant Boro, the median home price is $330,650. Property tax bills vary significantly, with the 25th percentile at $5,768 and the 75th percentile at $9,130. High-value properties can see tax bills reaching up to $12,932 at the 90th percentile. The median tax bill in the area is $6,893, which is notably higher than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Property Tax Bills Across Point Pleasant Boro, Ocean County, New Jersey
Source: Ownwell
$1,922
$9,935
$17,948
Average Point Pleasant Boro Tax Bill
$6,893
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 Boro, Ocean County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08742 | $4,964 | $5,768 | $6,893 | $9,130 | $12,932 |
Source: Ownwell