Port Murray, Hunterdon County, New Jersey Property Taxes

Name: Property Tax Bills Across Port Murray, Hunterdon County, New Jersey
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median PORT MURRAY, NJ effective property tax rate: 2.56%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median PORT MURRAY, NJ home value: $383,600
Median annual PORT MURRAY, NJ tax bill: $9,809, $7,409 higher than the national median property tax bill of $2,400.

How are property taxes in Hunterdon calculated?

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

Last Updated March 1, 2025

Port Murray, Hunterdon County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.56%

Estimate Property Tax Bill

$9,820

$9,113

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

Property Tax Rates Across Port Murray, Hunterdon County, New Jersey

Local government entities in New Jersey set tax rates, which can vary widely within the state. Each year, counties like Hunterdon estimate their required budget to provide essential services and divide that by the total value of all taxable property within their jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the essence of the annual process.

Port Murray in Hunterdon County exemplifies New Jersey's property tax landscape. With an effective property tax rate of 2.56%, it stands out compared to the national median property tax rate of 1.02%. This rate is also higher than New Jersey's state median, reflecting the state's reputation for having some of the highest property taxes in the country. Homeowners in Port Murray face property tax bills significantly above the national median of $2,400, underscoring the importance of understanding local tax dynamics. By comparing Port Murray’s rates to other cities in New Jersey and the U.S., property owners can gain valuable insights into their tax obligations and explore opportunities for potential savings.

Property Tax Rates Across Port Murray, Hunterdon County, New Jersey

Source: Ownwell

2.27%

3.26%

4.25%

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 Port Murray Tax Rate

2.56%

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 Port Murray, Hunterdon County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
07865	2.56%	2.56%	2.56%	2.56%	2.56%

Source: Ownwell

Property Tax Assessment Values Across Port Murray, Hunterdon County, New Jersey

When examining property taxes in Port Murray, 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 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 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 Port Murray. For example, the median home price in Port Murray is $383,600, with tax bills ranging significantly across the county. 07865 has the highest median home price at $383,900.

Property Tax Assessment Values Across Port Murray, Hunterdon County, New Jersey

Source: Ownwell

$178,200

$369,975

$561,750

Median Port Murray Market Value

$383,600

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 Port Murray, Hunterdon County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
07865	$228,340	$303,300	$383,900	$450,500	$518,060

Source: Ownwell

Property Tax Bills Across Port Murray, Hunterdon County, New Jersey

In Port Murray, NJ, property tax bills are calculated based on the assessed value of a home, influenced by the local tax rate. The median home price in the area is $383,600, and homeowners face a median property tax bill of $9,816, significantly higher than the national median of $2,400. This discrepancy highlights the impact of local tax policies on homeowners' finances. Several factors contribute to the final tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. The tax bill can vary widely, with the 25th percentile at $7,784 and the 75th percentile reaching $11,512, while the top 10% of tax bills soar to $13,224. Such variances can strain homeowners' budgets, making it crucial to explore potential savings. Ownwell assists homeowners by identifying opportunities for tax appeals and exemptions, potentially lowering their property tax bills. By leveraging expert knowledge and local insights, Ownwell helps clients navigate the complexities of property tax assessments, ensuring they only pay what is fair.

Property Tax Bills Across Port Murray, Hunterdon County, New Jersey

Source: Ownwell

$4,512

$8,641

$12,769

Median Port Murray Tax Bill

$9,809

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 Port Murray, Hunterdon County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
07865	$5,839	$7,755	$9,816	$11,519	$13,247

Source: Ownwell