Pilesgrove, New Jersey Property Taxes
The median property tax rate in Pilesgrove, NJ is 3.49%, 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 Pilesgrove, the typical annual property tax bill reaches $9,052, exceeding the national median of $2,690. Property taxes in Pilesgrove 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 Pilesgrove'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 Pilesgrove 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
Pilesgrove, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.49%
Estimate Property Tax Bill
$9,311
$8,641
Ownwell’s Pilesgrove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pilesgrove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pilesgrove 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 Pilesgrove, New Jersey
Property taxes in Pilesgrove, 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 Pilesgrove is 3.49%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Pilesgrove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pilesgrove 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 Pilesgrove's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 08098 has the highest median property tax rate of 3.49%, while the same zip code also has the lowest median tax rate of 3.49%. Understanding how these cities compare with Pilesgrove provides valuable insights into the varying tax landscape across Salem County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pilesgrove Tax Rate
3.49%
Average Salem County Tax Rate
3.71%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pilesgrove, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08098 | 3.18% | 3.36% | 3.49% | 3.49% | 3.49% |
Source: Ownwell
Property Tax Assessment Values Across Pilesgrove, New Jersey
In Pilesgrove, 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 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 Pilesgrove, 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 Pilesgrove is $266,800, and understanding these valuation concepts can help property owners better navigate their tax responsibilities. For instance, the median tax bill ranges significantly, with the 25th percentile at $6,831 and the 75th percentile at $11,601. The zip code 08098 has both the highest and lowest median tax bill at $9,052. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pilesgrove Assessed Value
$266,800
Average Salem County Assessed Value
$154,700
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pilesgrove, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08098 | $158,900 | $203,200 | $266,800 | $337,600 | $414,700 |
Source: Ownwell
Property Tax Bills Across Pilesgrove, New Jersey
In Pilesgrove, Salem 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 local government assessors who evaluate the property's market value. This figure is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For homeowners in Pilesgrove, the median home price stands at $266,800. The median property tax bill in this area is notably high compared to the national median property tax rate of 0.99%, with the 25th percentile tax bill at $6,831 and the 75th percentile reaching $11,601. Such high property taxes can significantly impact homeowners, influencing their ability to afford their homes and potentially affecting property values. Understanding these factors can help homeowners anticipate their tax obligations and plan accordingly.
Average Pilesgrove Tax Bill
$9,052
Average Salem County Tax Bill
$5,715
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Pilesgrove, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08098 | $5,294 | $6,831 | $9,052 | $11,601 | $14,315 |
Source: Ownwell