Haddonfield, New Jersey Property Taxes
The median property tax rate in Haddonfield, NJ is 2.75%, 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 Haddonfield, the typical annual property tax bill reaches $13,052, exceeding the national median of $2,690. Property taxes in Haddonfield 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 Haddonfield'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 Haddonfield 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
Haddonfield, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.75%
Estimate Property Tax Bill
$12,664
Ownwell’s Haddonfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Haddonfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Haddonfield 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 Haddonfield, New Jersey
Property taxes in Haddonfield, 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 Haddonfield is 2.75%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Haddonfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Haddonfield 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 Haddonfield's effective property tax rate to other areas in Camden County and the national median. For comparison, the 08033 zip code has the highest median property tax rate of 2.75%, while the same zip code also has the lowest median tax rate of 2.75%. Understanding how these rates compare with Haddonfield 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 Haddonfield Tax Rate
2.75%
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 Haddonfield, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08033 | 2.75% | 2.75% | 2.75% | 3.05% | 3.05% |
Source: Ownwell
Property Tax Assessment Values Across Haddonfield, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Haddonfield, NJ. 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 Haddonfield, 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 Haddonfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Haddonfield, the median home price is $460,492. The tax bill for homes in the 25th percentile is $10,180, while the 75th percentile sees tax bills around $18,634, and the 90th percentile reaches $25,026. Interestingly, the zip code 08033 records both the highest and lowest median tax bill at $13,052.
Average Haddonfield Assessed Value
$460,492
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 Haddonfield, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08033 | $273,327 | $344,222 | $460,492 | $668,491 | $902,989 |
Source: Ownwell
Property Tax Bills Across Haddonfield, New Jersey
In Haddonfield, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate the property's market value and then apply an assessment ratio. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the tax bill, including property size, location, and any improvements made to the property. In Haddonfield, the median home price is $460,492, leading to significant tax bills. Homeowners in the 25th percentile pay around $10,180 annually, while those in the 75th percentile face bills of approximately $18,634. The highest median tax bill reaches $13,052, which is notably higher than the national median property tax rate of 0.99%. These high property taxes can impact homeowners by increasing their annual expenses and influencing decisions about buying or selling property. Understanding how these taxes are calculated helps homeowners better manage their financial planning.
Average Haddonfield Tax Bill
$13,052
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 Haddonfield, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08033 | $8,534 | $10,180 | $13,052 | $18,634 | $25,026 |
Source: Ownwell