Island Heights, Ocean County, New Jersey Property Taxes

Name: Property Tax Bills Across Island Heights, Ocean County, New Jersey
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Island Heights, NJ effective property tax rate: 2.03%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Island Heights, NJ home value: $352,800
Median annual Island Heights, NJ tax bill: $7,110, $4,710 higher than the national median property tax bill of $2,400.

How are property taxes in Ocean County calculated?

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

Last Updated March 1, 2025

Island Heights, Ocean County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.03%

Estimate Property Tax Bill

$7,162

$6,646

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

Property Tax Rates Across Island Heights, Ocean County, New Jersey

Local government entities set tax rates, and these can vary significantly within a state. Each year, counties estimate their required budgets for services and divide this by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. While votes and laws influence the setting of tax rates and budgets, this is essentially the annual process.

Island Heights in Ocean County, NJ, has an effective property tax rate of 2.03%. This rate is notably higher than the national median property tax rate of 1.02%. The median property tax bill in Island Heights reflects this elevated rate, surpassing the national median bill of $2,400. Such a high rate is indicative of the state's property tax framework, where Island Heights shares the same rate across the board, making it both the highest and lowest in the area.

For residents, understanding how these rates compare to other cities in New Jersey and the broader U.S. context can be crucial for financial planning and property investment decisions.

Property Tax Rates Across Island Heights, Ocean County, New Jersey

Source: Ownwell

0.83%

2.04%

3.25%

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 Island Heights Tax Rate

2.03%

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 Island Heights, Ocean County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
08732	1.86%	2.01%	2.03%	2.03%	2.03%

Source: Ownwell

Property Tax Assessment Values Across Island Heights, Ocean County, New Jersey

When examining property taxes in Island Heights, 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 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.

In Ocean County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Island Heights.

For example, the median home price in Island Heights is $352,800, with tax bills ranging significantly across the county. Zip code 08732 has the highest median home price at $352,800.

Property Tax Assessment Values Across Island Heights, Ocean County, New Jersey

Source: Ownwell

$88,700

$589,800

$1,090,900

Median Island Heights Market Value

$352,800

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 Island Heights, Ocean County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
08732	$235,450	$294,500	$352,800	$457,875	$686,090

Source: Ownwell

Property Tax Bills Across Island Heights, Ocean County, New Jersey

In Island Heights, NJ, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, and the local tax rate is set by municipal authorities. In Island Heights, the median property tax bill is notably high at $7,110, reflecting the area's higher property values and tax rates. This figure significantly exceeds the national median property tax bill of $2,400. Factors such as local government budgets, school funding needs, and public services influence the tax rate, impacting homeowners' annual expenses. For those in Island Heights, the tax bill can range from $5,760 at the 25th percentile to $13,903 at the 90th percentile, indicating a wide variation based on property value and location. Ownwell can assist homeowners by identifying potential savings through property tax appeals and exemptions. By ensuring assessments are accurate and exploring available exemptions, Ownwell helps homeowners reduce their tax burden, potentially saving them thousands annually.

Property Tax Bills Across Island Heights, Ocean County, New Jersey

Source: Ownwell

$1,922

$9,935

$17,948

Median Island Heights Tax Bill

$7,110

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 Island Heights, Ocean County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
08732	$4,635	$5,760	$7,110	$9,164	$13,903

Source: Ownwell