Whiting, Ocean County, New Jersey Property Taxes
The median property tax rate in Whiting, NJ is 2.17%, 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 Whiting at $116,850, the typical annual property tax bill reaches $2,483, which is just below the national median of $2,690. Property taxes in Whiting 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 Whiting'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 Whiting 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
Whiting, Ocean County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.17%
Estimate Property Tax Bill
$2,536
$2,353
Ownwell’s Whiting Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Whiting with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Whiting 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 Ocean County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Whiting, Ocean County, New Jersey
Property taxes in Whiting, NJ, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Whiting is 2.17%, significantly higher than the U.S. national median of 0.99%. Local government entities within Whiting set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whiting 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 Whiting's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08759 zip code has the highest median property tax rate of 2.17%, while the same zip code also has the lowest median tax rate of 2.17%. Understanding how these cities compare with Whiting 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 Whiting Tax Rate
2.17%
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 Whiting, Ocean County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08759 | 1.93% | 2.17% | 2.17% | 2.17% | 2.17% |
Source: Ownwell
Property Tax Assessment Values Across Whiting, Ocean County, New Jersey
Understanding the difference between "market value" and "assessed value" in Whiting, NJ, is crucial for comprehending property taxes. 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 local 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 Whiting, 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 Whiting helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Whiting is $116,850, with the median tax bill at $2,483 in the 08759 zip code.
Property Tax Assessment Values Across Whiting, Ocean County, New Jersey
Source: Ownwell
$88,700
$589,800
$1,090,900
Average Whiting Assessed Value
$116,850
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 Whiting, Ocean County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08759 | $72,200 | $88,500 | $116,850 | $187,450 | $311,350 |
Source: Ownwell
Property Tax Bills Across Whiting, Ocean County, New Jersey
In Whiting, 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 and is intended to reflect the market value of the property. Homeowners in Whiting can expect property tax bills to vary significantly, depending on the assessed value of their homes. For instance, the median home price in Whiting is $116,850, and property tax bills can range from $1,887 at the 25th percentile to $6,702 at the 90th percentile. The local tax rate in Whiting is influenced by the county's needs, public services, and school funding. With a median tax bill of $2,483, homeowners in Whiting face a higher property tax burden compared to the national median property tax rate of 0.99%. This higher tax rate impacts homeowners by increasing their annual expenses, which can affect affordability and the overall cost of homeownership in the area.
Average Whiting Tax Bill
$2,483
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 Whiting, Ocean County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08759 | $1,484 | $1,887 | $2,483 | $3,981 | $6,702 |
Source: Ownwell