Atco, New Jersey Property Taxes
The median property tax rate in ATCO, NJ is 3.10%, 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 ATCO at $229,094, the typical annual property tax bill reaches $7,008, exceeding the national median of $2,690. Property taxes in ATCO 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 ATCO'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 ATCO 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
Atco, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.1%
Estimate Property Tax Bill
$7,102
Ownwell’s ATCO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ATCO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ATCO 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 Atco, New Jersey
Property taxes in ATCO, New Jersey, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in ATCO is 3.10%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within ATCO set these rates annually, and they can vary significantly across different neighborhoods. Each year, ATCO 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 ATCO's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08004 zip code has both the highest and lowest median property tax rate of 3.10%. Understanding how these cities compare with ATCO provides valuable insights into the varying tax landscape across Camden County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Atco Tax Rate
3.10%
Average Camden County Tax Rate
3.17%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Atco, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08004 | 2.95% | 3.10% | 3.10% | 3.10% | 3.10% |
Source: Ownwell
Property Tax Assessment Values Across Atco, New Jersey
In ATCO, 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 local 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 ATCO, 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. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The median home price in ATCO is $229,094, with the highest and lowest median tax bills both at $7,008 in zip code 08004. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Atco Assessed Value
$229,094
Average Camden County Assessed Value
$216,803
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Atco, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08004 | $152,597 | $186,243 | $229,094 | $268,895 | $311,192 |
Source: Ownwell
Property Tax Bills Across Atco, New Jersey
In ATCO, Camden County, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor's office and reflects the market value of the property. This value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence this calculation, including the property's location, size, and condition. For homeowners in ATCO, the median home price is $229,094. Property tax bills can vary significantly, with the 25th percentile at $5,680 and the 75th percentile at $8,246. The highest median tax bill recorded in the area is $7,008, which is considerably higher than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure. Consequently, homeowners in ATCO may find their tax bills to be a substantial annual expense, directly impacting their household budgets and the overall cost of owning a home in this region.
Average Atco Tax Bill
$7,008
Average Camden County Tax Bill
$7,089
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Atco, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08004 | $4,658 | $5,680 | $7,008 | $8,246 | $9,625 |
Source: Ownwell