Bay Head, Ocean County, New Jersey Property Taxes
Median Bay Head, NJ effective property tax rate: 0.90%, significantly lower than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median Bay Head, NJ home value: $1,090,900
Median annual Bay Head, NJ tax bill: $9,663, $7,263 higher than the national median property tax bill of $2,400.
How are property taxes in Ocean calculated?
Property taxes in Bay Head, 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 Bay Head’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bay Head, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Bay Head, Ocean County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.9%
Estimate Property Tax Bill
$9,818
$9,111
Property Tax Rates Across Bay Head, Ocean County, New Jersey
Local government entities are responsible for setting tax rates, which can significantly differ across a state. This variation occurs because each county estimates its annual budget necessary for providing services and then divides that by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. Although votes and laws play a part in setting tax rates and budgets, this is the crux of the yearly process.
In Bay Head, located in Ocean County, NJ, the effective property tax rate is a reflection of these local processes. When compared to other cities in New Jersey, Bay Head's tax rate is notably distinct. The median property tax rate in New Jersey often surpasses the national median rate of 1.02%, yet Bay Head stands out with its own unique rate. This comparison illustrates the diversity of property tax rates within the state and highlights how Bay Head's rate aligns with or diverges from both state and national medians.
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 Bay Head Tax Rate
0.90%
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 Ocean County Tax Rate
2.26%
Median Effective New Jersey Tax Rate
2.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Bay Head, Ocean County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08742 | 0.87% | 0.90% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Bay Head, Ocean County, New Jersey
When examining property taxes in Bay Head, 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 Ocean 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.
In Ocean 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 Bay Head. For example, the median home price in Bay Head is $1,090,900, with tax bills ranging significantly across the county. Zip code 08742 has the highest median home price at $1,090,900.
Property Tax Assessment Values Across Bay Head, Ocean County, New Jersey
Source: Ownwell
$88,700
$589,800
$1,090,900
Median Bay Head Market Value
$1,090,900
Median Ocean County Market Value
$281,800
Median New Jersey Market Value
$282,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across Bay Head, Ocean County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08742 | $684,680 | $851,000 | $1,090,900 | $1,642,700 | $3,348,020 |
Source: Ownwell
Property Tax Bills Across Bay Head, Ocean County, New Jersey
Median Bay Head Tax Bill
$9,663
Median Ocean County Tax Bill
$5,983
Median New Jersey Tax Bill
$8,227
Median United States Tax Bill
$2,400
Property Tax Bills Across Bay Head, Ocean County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08742 | $6,121 | $7,570 | $9,663 | $14,653 | $29,456 |
Source: Ownwell