Oldwick, Hunterdon County, New Jersey Property Taxes
Median Oldwick, NJ effective property tax rate: 2.27%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median Oldwick, NJ home value: $561,750
Median annual Oldwick, NJ tax bill: $12,769, $10,369 higher than the national median property tax bill of $2,400.
How are property taxes in Hunterdon calculated?
Property taxes in Oldwick, 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 Oldwick’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Oldwick, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Oldwick, Hunterdon County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.27%
Estimate Property Tax Bill
$12,752
$11,833
Property Tax Rates Across Oldwick, Hunterdon County, New Jersey
Local government entities set tax rates, which can vary widely within a state. 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 Oldwick’s effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S.
Oldwick in Hunterdon County boasts a property tax rate of 2.27%, which is significantly higher than the national median of 1.02%. This rate is indicative of New Jersey's overall tax climate, where property tax rates often exceed national figures. Despite this, the funds collected support essential services, contributing to the local infrastructure and community amenities. Homeowners in Oldwick can benefit from understanding these rates, potentially exploring tax appeal or exemption services to manage their tax obligations effectively. By staying informed and proactive, property owners can ensure they are not overpaying and can contribute to the thriving community of Hunterdon County.
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 Oldwick Tax Rate
2.27%
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 Hunterdon County Tax Rate
2.66%
Median Effective New Jersey Tax Rate
2.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Oldwick, Hunterdon County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08858 | 2.27% | 2.27% | 2.27% | 2.27% | 2.27% |
Source: Ownwell
Property Tax Assessment Values Across Oldwick, Hunterdon County, New Jersey
When examining property taxes in Oldwick, 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 Hunterdon 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 Hunterdon County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Oldwick. For example, the median home price in Oldwick is $561,750, with tax bills ranging significantly across the county. 08858 has the highest median home price at $561,750.
Property Tax Assessment Values Across Oldwick, Hunterdon County, New Jersey
Source: Ownwell
$178,200
$369,975
$561,750
Median Oldwick Market Value
$561,750
Median Hunterdon County Market Value
$364,050
Median New Jersey Market Value
$282,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across Oldwick, Hunterdon County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08858 | $347,600 | $421,950 | $561,750 | $774,625 | $1,053,000 |
Source: Ownwell
Property Tax Bills Across Oldwick, Hunterdon County, New Jersey
In Oldwick, located in Hunterdon County, NJ, property tax bills are calculated based on the assessed value of a home, which is then multiplied by the local tax rate. The median home price in the area is $561,750, significantly higher than the national median. Consequently, homeowners in Oldwick face substantial property tax bills, with the 25th percentile tax bill at $9,591 and the 75th percentile reaching $17,607. Even more striking, the 90th percentile tax bill is a whopping $23,935. These figures highlight the financial burden property taxes can impose on homeowners.
Ownwell offers valuable assistance by helping homeowners navigate the complexities of property tax appeals and exemptions. By leveraging their expertise, homeowners can potentially reduce their tax bills, ensuring they are not overpaying. Ownwell's services are designed to identify discrepancies in assessed values, providing a pathway to lower property taxes. This support is crucial in a high-tax area like Oldwick, where reducing even a small percentage of the tax bill can lead to significant savings.
Median Oldwick Tax Bill
$12,769
Median Hunterdon County Tax Bill
$10,015
Median New Jersey Tax Bill
$8,227
Median United States Tax Bill
$2,400
Property Tax Bills Across Oldwick, Hunterdon County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08858 | $7,901 | $9,591 | $12,769 | $17,607 | $23,935 |
Source: Ownwell