Cape May Point, Cape May County, New Jersey Property Taxes

Name: Property Tax Bills Across Cape May Point, Cape May County, New Jersey
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Cape May Point, NJ effective property tax rate: 0.49%, significantly lower than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Cape May Point, NJ home value: $1,015,906
Median annual Cape May Point, NJ tax bill: $5,026, $2,626 higher than the national median property tax bill of $2,400.

How are property taxes in Cape May calculated?

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

Last Updated March 1, 2025

Cape May Point, Cape May County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.49%

Estimate Property Tax Bill

$4,978

$4,619

Ownwell’s Cape May Point Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cape May Point with just two data points. By entering your property's estimated assessed value, our calculator applies Cape May Point’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 Cape May. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Cape May Point, Cape May County, New Jersey

Local government entities set tax rates, which can vary widely within a state. This is because 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. Cape May Point in Cape May County, NJ, stands out with its effective property tax rate of 0.49%, significantly lower than the national median property tax rate of 1.02%. This means residents enjoy a relatively lower property tax burden compared to many other regions across the country. Although New Jersey is often recognized for its high property taxes, Cape May Point offers a more favorable rate. This provides an appealing option for property owners who are looking for potential savings on their tax bills. Exploring property tax appeal and exemption services could further enhance these savings, making it a strategic choice for homeowners in this picturesque region.

Property Tax Rates Across Cape May Point, Cape May County, New Jersey

Source: Ownwell

0.41%

1.10%

1.78%

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 Cape May Point Tax Rate

0.49%

Median Effective Cape May County Tax Rate

1.07%

Median Effective New Jersey Tax Rate

2.82%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Cape May Point, Cape May County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
08212	0.49%	0.49%	0.49%	0.49%	0.49%

Source: Ownwell

Property Tax Assessment Values Across Cape May Point, Cape May County, New Jersey

When examining property taxes in Cape May Point, 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 Cape May 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. Assessment notices: In Cape May County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Cape May Point. For example, the median home price in Cape May Point is $1,015,906, with tax bills ranging significantly across the county. 08212 has the highest median home price at $1,015,906.

Property Tax Assessment Values Across Cape May Point, Cape May County, New Jersey

Source: Ownwell

$42,768

$949,934

$1,857,100

Median Cape May Point Market Value

$1,015,906

Median Cape May County Market Value

$477,646

Median New Jersey Market Value

$282,900

Median United States Market Value

$235,294

Property Tax Assessment Values Across Cape May Point, Cape May County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
08212	$755,169	$874,963	$1,015,906	$1,174,264	$1,530,074

Source: Ownwell

Property Tax Bills Across Cape May Point, Cape May County, New Jersey

In Cape May Point, NJ, property tax bills are determined by assessing the property's market value and applying the local tax rate. With a median home price of $1,015,906, homeowners in this area face significant tax obligations. The property tax bill typically ranges from $4,323 at the 25th percentile to $7,590 at the 90th percentile, with a median tax bill of $5,026. This is considerably higher than the national median property tax bill of $2,400. The high property tax rates in Cape May Point can substantially impact homeowners, often leading to financial strain. Factors such as local government budgets and public service funding contribute to these tax rates. Ownwell offers a solution by providing expert property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies, Ownwell helps homeowners potentially lower their property tax bills, offering relief from the financial burden. Their expertise ensures that homeowners pay only their fair share, making property ownership more affordable.

Property Tax Bills Across Cape May Point, Cape May County, New Jersey

Source: Ownwell

$641

$6,795

$12,949

Median Cape May Point Tax Bill

$5,026

Median Cape May County Tax Bill

$5,051

Median New Jersey Tax Bill

$8,227

Median United States Tax Bill

$2,400

Property Tax Bills Across Cape May Point, Cape May County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
08212	$3,734	$4,323	$5,026	$5,809	$7,590

Source: Ownwell