Green Township, New Jersey Property Taxes
The median property tax rate in Green Township, NJ is 3.66%, 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 Green Township, the typical annual property tax bill reaches $8,469, exceeding the national median of $2,690. Property taxes in Green Township 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 Green Township'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 Green Township 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
Green Township, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.66%
Estimate Property Tax Bill
$8,469
Ownwell’s Green Township Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Green Township with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Green Township 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 Green Township, New Jersey
Property taxes in Green Township, New Jersey, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Green Township is 3.66%, significantly higher than the U.S. national median of 0.99%. Local government entities within Green Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Green Township 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 Green Township's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 07821 has the highest median property tax rate of 3.66%, while the same zip code also has the lowest median tax rate of 3.66%. Understanding how these cities compare with Green Township provides valuable insights into the varying tax landscape across Sussex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Green Township Tax Rate
3.66%
Average Sussex County Tax Rate
3.40%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Green Township, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07821 | 3.66% | 3.66% | 3.66% | 3.66% | 3.66% |
Source: Ownwell
Property Tax Assessment Values Across Green Township, New Jersey
In Green Township, 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 Sussex County 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 Green Township, 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 Green Township is $231,400. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The highest and lowest median tax bills in Green Township are both $8,469, found in the 07821 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Green Township, New Jersey
Source: Ownwell
$63,850
$216,550
$369,250
Average Green Township Assessed Value
$231,400
Average Sussex County Assessed Value
$229,300
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Green Township, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07821 | $231,400 | $231,400 | $231,400 | $231,400 | $231,400 |
Source: Ownwell
Property Tax Bills Across Green Township, New Jersey
In Green Township, Sussex 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 township's tax assessor and is meant 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 tax bill. For homeowners in Green Township, the median home price is $231,400. With a median property tax bill of $8,469, the effective tax rate is significantly higher than the national median property tax rate of 0.99%. This higher tax rate can place a substantial financial burden on homeowners, affecting their overall cost of living and home affordability. Factors such as local government budgets, school funding, and public services all contribute to the determination of the tax rate. Consequently, homeowners must consider these taxes as a crucial element in their financial planning and property investments.
Average Green Township Tax Bill
$8,469
Average Sussex County Tax Bill
$7,518
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Green Township, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07821 | $8,469 | $8,469 | $8,469 | $8,469 | $8,469 |
Source: Ownwell