Berlin Boro, New Jersey Property Taxes
The median property tax rate in Berlin Boro, NJ is 2.89%, 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 Berlin Boro at $229,744, the typical annual property tax bill reaches $6,642, significantly exceeding the national median of $2,690. Property taxes in Berlin Boro 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 Berlin Boro'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 Berlin Boro 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
Berlin Boro, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.89%
Estimate Property Tax Bill
$6,640
Ownwell’s Berlin Boro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Berlin Boro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Berlin Boro 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 Berlin Boro, New Jersey
Property taxes in Berlin Boro, 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 Berlin Boro is 2.89%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Berlin Boro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Berlin Boro 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 Berlin Boro's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08009 zip code has the highest median property tax rate of 2.89%, while the same zip code also has the lowest median tax rate of 2.89%. Understanding how these cities compare with Berlin Boro 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 Berlin Boro Tax Rate
2.89%
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 Berlin Boro, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08009 | 2.89% | 2.89% | 2.89% | 2.89% | 2.89% |
Source: Ownwell
Property Tax Assessment Values Across Berlin Boro, New Jersey
In Berlin Boro, 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 Camden County Assessor 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 Berlin Boro, 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. Being aware of these valuation processes in Berlin Boro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Berlin Boro, the median home price is $229,744, with median tax bills ranging from $6,483 to $7,650. The zip code 08009 has both the highest and lowest median tax bill at $6,642.
Average Berlin Boro Assessed Value
$229,744
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 Berlin Boro, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08009 | $211,621 | $224,249 | $229,744 | $240,354 | $264,609 |
Source: Ownwell
Property Tax Bills Across Berlin Boro, New Jersey
Property tax bills in Berlin Boro, Camden County, NJ, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local tax assessor and aims to reflect the market value of the property. This assessed value is then multiplied by the tax rate to determine the annual tax bill. In Berlin Boro, the median home price is $229,744, and the property tax rate is notably higher than the national median of 0.99%. Homeowners in Berlin Boro can expect tax bills that vary significantly. For instance, the tax bill at the 25th percentile is $6,483, while at the 75th percentile, it is $6,948, and at the 90th percentile, it reaches $7,650. This range illustrates how property values and specific local tax rates can significantly impact the financial obligations of homeowners. High property taxes can influence decisions on home buying and selling, as well as affect long-term financial planning for residents.
Average Berlin Boro Tax Bill
$6,642
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 Berlin Boro, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08009 | $6,118 | $6,483 | $6,642 | $6,948 | $7,650 |
Source: Ownwell