Marlton, New Jersey Property Taxes
The median property tax rate in Marlton, NJ is 3.07%, considerably higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With the median home value in Marlton at $261,600, the typical annual property tax bill reaches $8,025, far exceeding the national median of $2,690. Property taxes in Marlton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Marlton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Marlton or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marlton, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.07%
Estimate Property Tax Bill
$8,031
Ownwell’s Marlton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marlton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marlton to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Marlton, New Jersey
Property taxes in Marlton, New Jersey, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marlton is 3.07%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Marlton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marlton estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Marlton's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08053 zip code has the highest median property tax rate of 3.07%, while the same zip code also has the lowest median tax rate of 3.07%. Understanding how these cities compare with Marlton provides valuable insights into the varying tax landscape across Burlington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marlton Tax Rate
3.07%
Average Burlington County Tax Rate
3.07%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marlton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08053 | 3.07% | 3.07% | 3.07% | 3.07% | 3.07% |
Source: Ownwell
Property Tax Assessment Values Across Marlton, New Jersey
In Marlton, New Jersey, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Burlington County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Marlton, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. The median home price in Marlton is $261,600, with tax bills ranging from $6,359 at the 25th percentile to $12,190 at the 90th percentile. The highest and lowest median tax bills are both $8,025, found in the 08053 zip code. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Marlton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Marlton Assessed Value
$261,600
Average Burlington County Assessed Value
$210,600
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marlton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08053 | $155,000 | $207,100 | $261,600 | $316,600 | $397,860 |
Source: Ownwell
Property Tax Bills Across Marlton, New Jersey
Property tax bills in Marlton, NJ, located in Burlington County, are determined by a combination of the property's assessed value and the local tax rate. The assessed value is an estimation of the property's market value, which is periodically updated to reflect market conditions. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. In Marlton, the median home price is $261,600, and property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $6,359, while at the 75th percentile, it rises to $9,710. The 90th percentile tax bill reaches $12,190, indicating a wide range of tax liabilities among homeowners. The highest and lowest median tax bills in the area both stand at $8,025, which is substantially higher than the national median property tax rate of 0.99%. These property taxes significantly impact homeowners, influencing affordability and overall cost of living in Marlton.
Average Marlton Tax Bill
$8,025
Average Burlington County Tax Bill
$6,846
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Marlton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08053 | $4,757 | $6,359 | $8,025 | $9,710 | $12,190 |
Source: Ownwell