Property Taxes in Rio Grande, New Jersey
Median Rio Grande, New Jersey effective property tax rate: 2.16%, significantly lower than the national median of 1.02%, and lower than the New Jersey state median of 2.88%.
Median Rio Grande, New Jersey home value: $202,400
Median annual Rio Grande, New Jersey tax bill: $4,368, $1,968 higher than the national median property tax bill of $2,400.
How are property taxes in Cape May calculated?
Property taxes in Rio Grande, New Jersey 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 Rio Grande's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Rio Grande, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Rio Grande Property Tax Calculator Work?
Use this Rio Grande property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and the calculator applies Rio Grande's median effective tax rate of 2.16% — based on actual property records in Cape May County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment process uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. The calculator applies Rio Grande's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Rio Grande: rates are 2.16% in 08242, and the median property tax bill is $4,368. That is higher than the New Jersey median property tax rate of 2.88% and the national median property tax rate of 1.02%.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Rio Grande.
About Rio Grande Property Taxes
About Property Taxes in Rio Grande, Cape May, New Jersey
Rio Grande’s median effective property tax rate of 2.16% is lower than the New Jersey state median of 2.88% and higher than the national median of 1.02%. This rate reflects the Cape May County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Rio Grande. Homeowners in the 08242 ZIP code carry a median effective rate of 2.16%, while those in the same ZIP also pay 2.16%. This spread reflects how school district boundaries and local assessment districts are drawn across Cape May County. Understanding which part of Rio Grande you live in can make a meaningful difference to your annual tax bill.
Rio Grande homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the April 1, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Rio Grande, Cape May County, New Jersey
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? 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.
Below, you can compare Rio Grande's effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S.
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 Rio Grande Tax Rate
2.16%
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 County Tax Rate
1.55%
Median Effective New Jersey Tax Rate
2.88%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Rio Grande, Cape May County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08242 | 2.03% | 2.16% | 2.16% | 2.16% | 2.16% |
Source: Ownwell
Property Tax Assessment Values Across Rio Grande, Cape May County, New Jersey
When examining property taxes in Rio Grande, New Jersey, 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 tax assessor 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 February each year. They'll typically reach your mailbox by the middle of February.
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 Rio Grande.
For example, the median home price in Rio Grande is $202,400, with tax bills ranging significantly across the county. 08242 has the highest median home price at $202,400.
Property Tax Assessment Values Across Rio Grande, Cape May County, New Jersey
Source: Ownwell
$152,600
$795,525
$1,438,450
Median Rio Grande Market Value
$202,400
Median Cape May County Market Value
$320,700
Median New Jersey Market Value
$288,200
Median United States Market Value
$274,101
Property Tax Assessment Values Across Rio Grande, Cape May County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08242 | $67,500 | $152,000 | $202,400 | $241,200 | $283,160 |
Source: Ownwell
Property Tax Bills Across Rio Grande, Cape May County, New Jersey
Rio Grande property tax bills are based on the assessed value of a home and the local tax rate set by taxing authorities in Cape May County. When a property’s assessed value rises, the tax bill can increase as well, especially if the home is valued above the local median home price of $202,400. The bill is determined by multiplying the assessed value by the tax rate, then applying any exemptions or adjustments that may reduce the amount owed.
For many homeowners, the result is a yearly bill that can be significant. In Rio Grande, the median tax bill is $4,368, which is well above the national median property tax bill of $2,400 and the national median property tax rate of 1.02%. Bills in the area also vary widely, with the 25th percentile at $3,241 and the 75th percentile at $5,205. That means two similar homes can still face very different property tax bills depending on their assessed value and location.
Median Rio Grande Tax Bill
$4,368
Median Cape May County Tax Bill
$5,073
Median New Jersey Tax Bill
$8,638
Median United States Tax Bill
$3,209
Property Tax Bills Across Rio Grande, Cape May County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08242 | $1,371 | $3,241 | $4,368 | $5,205 | $6,006 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 1 |
Links | |
|---|---|
| Cape May Tax Assessor | |
| Website | press.capemaycountynj.gov |