Toms River, Ocean County, New Jersey Property Taxes

Name: Property Tax Bills Across Toms River, Ocean County, New Jersey
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Toms River, NJ effective property tax rate: 1.67%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Toms River, NJ home value: $274,100
Median annual Toms River, NJ tax bill: $4,718, $2,318 higher than the national median property tax bill of $2,400.

How are property taxes in Ocean County calculated?

Property taxes in Toms River, 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 Toms River’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Toms River, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Toms River, Ocean County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.67%

Estimate Property Tax Bill

$4,577

$4,248

Ownwell’s Toms River Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Toms River with just two data points.

By entering your property's estimated assessed value, our calculator applies Toms River’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Ocean County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Toms River, 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 Toms River, located in Ocean County, the effective property tax rate is a reflection of this process. Compared to other cities in New Jersey, Toms River's tax rate provides a unique perspective on how local budgets affect property owners. The median property tax rate in New Jersey is notably higher than the national median, which stands at 1.02%. Toms River's rate aligns with the state's trend, showcasing the variance in tax rates across different regions. This comparison highlights the importance of understanding local tax dynamics, as they directly impact property owners' financial responsibilities. By examining these rates, property owners can gain insight into how their tax obligations compare within the state and nationally.

Property Tax Rates Across Toms River, Ocean County, New Jersey

Source: Ownwell

0.83%

2.04%

3.25%

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 Toms River Tax Rate

1.67%

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 Toms River, Ocean County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
08753	1.51%	1.65%	1.67%	1.67%	1.67%
08755	1.49%	1.58%	1.67%	1.67%	1.67%
08757	1.89%	2.07%	2.17%	2.28%	2.28%

Source: Ownwell

Property Tax Assessment Values Across Toms River, Ocean County, New Jersey

When examining property taxes in Toms River, 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 Toms River. For example, the median home price in Toms River is $274,100, with tax bills ranging significantly across the county. Zip code 08753 has the highest median home price at $352,950.

Property Tax Assessment Values Across Toms River, Ocean County, New Jersey

Source: Ownwell

$88,700

$589,800

$1,090,900

Median Toms River Market Value

$274,100

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 Toms River, Ocean County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
08753	$191,200	$268,725	$352,950	$457,200	$611,900
08755	$222,700	$273,350	$341,100	$537,450	$732,400
08757	$106,400	$118,900	$132,800	$180,600	$231,940

Source: Ownwell

Property Tax Bills Across Toms River, Ocean County, New Jersey

In Toms River, located in Ocean County, NJ, property tax bills are calculated based on the assessed value of a home and the local property tax rate. The assessed value is determined by local assessors who evaluate the market value of properties. Homeowners in Toms River face a median property tax bill of $5,770, significantly higher than the national median of $2,400. Factors such as property size, location, and improvements can influence the assessed value, impacting the final tax bill. With tax bills ranging from $3,027 at the 25th percentile to $9,414 at the 90th percentile, the financial impact on homeowners can vary widely.

Ownwell offers valuable assistance to homeowners in Toms River by providing property tax appeal and exemption services. By leveraging expert knowledge and local data, Ownwell helps identify potential savings opportunities and guides homeowners through the appeal process. This can result in reduced property tax bills, offering financial relief and ensuring homeowners are not overpaying on their taxes.

Property Tax Bills Across Toms River, Ocean County, New Jersey

Source: Ownwell

$1,922

$9,935

$17,948

Median Toms River Tax Bill

$4,718

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 Toms River, Ocean County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
08753	$3,113	$4,359	$5,770	$7,522	$10,069
08755	$3,566	$4,325	$5,568	$8,839	$12,196
08757	$2,234	$2,489	$2,896	$4,151	$5,370

Source: Ownwell