Voorhees, New Jersey Property Taxes
The median property tax rate in Voorhees, NJ is 3.23%, significantly higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With the median home value in Voorhees at $314,614, the typical annual property tax bill reaches $10,188, far exceeding the national median of $2,690. Property taxes in Voorhees are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Voorhees' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Voorhees 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
Voorhees, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.23%
Estimate Property Tax Bill
$10,162
Ownwell’s Voorhees Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Voorhees with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Voorhees 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 Camden County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Voorhees, New Jersey
Property taxes in Voorhees, New Jersey, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Voorhees is 3.23%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Voorhees set these rates annually, and they can vary significantly across different neighborhoods. Each year, Voorhees 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 Voorhees's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08043 zip code has both the highest and lowest median property tax rate of 3.23%. Understanding how these cities compare with Voorhees 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 Voorhees Tax Rate
3.23%
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 Voorhees, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08043 | 3.23% | 3.23% | 3.23% | 3.23% | 3.23% |
Source: Ownwell
Property Tax Assessment Values Across Voorhees, New Jersey
In Voorhees, 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 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 Voorhees, 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 Voorhees helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $10,188 in zip code 08043.
Average Voorhees Assessed Value
$314,614
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 Voorhees, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08043 | $144,313 | $215,620 | $314,614 | $422,816 | $540,551 |
Source: Ownwell
Property Tax Bills Across Voorhees, New Jersey
In Voorhees, 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 tax assessor and is meant to reflect the market value of the property. Voorhees homeowners face a property tax rate higher than the national median of 0.99%. For instance, the median home price in Voorhees is $314,614, and property tax bills can vary significantly. Homeowners at the 25th percentile pay around $6,985, while those at the 75th percentile face bills up to $13,673. At the 90th percentile, tax bills can reach $17,479. Several factors influence these tax bills, including property size, location, and any applicable exemptions. High property taxes can significantly impact homeowners by increasing the overall cost of owning a home, which can be a crucial factor for potential buyers and current residents. Understanding how these taxes are calculated can help homeowners better plan their finances and explore potential savings.
Average Voorhees Tax Bill
$10,188
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 Voorhees, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08043 | $4,679 | $6,985 | $10,188 | $13,673 | $17,479 |
Source: Ownwell