Seaside Park, Ocean County, New Jersey Property Taxes
The median property tax rate in Seaside Park, NJ is 1.55%, 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 Seaside Park at $465,000, the typical annual property tax bill reaches $8,174, exceeding the national median of $2,690. Property taxes in Seaside Park 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 Seaside Park'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 Seaside Park 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
Seaside Park, Ocean County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$7,208
$6,688
Ownwell’s Seaside Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Seaside Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seaside Park 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 Seaside Park, Ocean County, New Jersey
Property taxes in Seaside Park, 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 Seaside Park is 1.55%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Seaside Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seaside Park 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 Seaside Park's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08752 zip code has the highest median property tax rate of 1.55%, while the same zip code also has the lowest median tax rate of 1.55%. Understanding how these cities compare with Seaside Park 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 Seaside Park Tax Rate
1.55%
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 Seaside Park, Ocean County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08752 | 1.52% | 1.55% | 1.55% | 2.28% | 2.28% |
Source: Ownwell
Property Tax Assessment Values Across Seaside Park, Ocean County, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Seaside Park, New Jersey. The market value represents 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's Office 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 Seaside Park, 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 Seaside Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Seaside Park are both $8,174 in the zip code 08752, illustrating the uniformity in tax assessments within the area.
Property Tax Assessment Values Across Seaside Park, Ocean County, New Jersey
Source: Ownwell
$88,700
$589,800
$1,090,900
Average Seaside Park Assessed Value
$465,000
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 Seaside Park, Ocean County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08752 | $219,220 | $321,275 | $465,000 | $637,250 | $783,410 |
Source: Ownwell
Property Tax Bills Across Seaside Park, Ocean County, New Jersey
In Seaside Park, located in Ocean County, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The tax rate, applied to this assessed value, is influenced by various factors, including local government budgets, school funding, and public services. For instance, with a median home price of $465,000, homeowners in Seaside Park can expect their property tax bills to vary significantly. At the 25th percentile, property tax bills are approximately $6,224, while those in the 75th percentile reach around $10,863. The highest property tax bills, at the 90th percentile, can go up to $13,505. This range highlights how property taxes in Seaside Park can impact homeowners differently, depending on the assessed value of their property. Compared to the national median property tax rate of 0.99%, Seaside Park's property tax rates can result in higher annual costs for homeowners, making it crucial for them to understand how their tax bill is determined and what factors contribute to its calculation.
Average Seaside Park Tax Bill
$8,174
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 Seaside Park, Ocean County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08752 | $3,992 | $6,224 | $8,174 | $10,863 | $13,505 |
Source: Ownwell