Shiloh, New Jersey Property Taxes
The median property tax rate in Shiloh, NJ is 2.68%, 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 Shiloh, the typical annual property tax bill reaches $4,539, exceeding the national median of $2,690. Property taxes in Shiloh 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 Shiloh'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 Shiloh 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
Shiloh, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.68%
Estimate Property Tax Bill
$4,533
Ownwell’s Shiloh Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shiloh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shiloh 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 Shiloh, New Jersey
Property taxes in Shiloh, New Jersey, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Shiloh is 2.68%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Shiloh set these rates annually, and they can vary across different neighborhoods. Each year, Shiloh 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 Shiloh's effective property tax rate to other areas in Cumberland County and the national median. For comparison, the 08353 zip code has the highest median property tax rate of 2.68%, while the same zip code also has the lowest median tax rate of 2.68%. Understanding how these areas compare with Shiloh provides valuable insights into the varying tax landscape across Cumberland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shiloh Tax Rate
2.68%
Average Cumberland County Tax Rate
2.69%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shiloh, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08353 | 2.68% | 2.68% | 2.68% | 2.68% | 2.68% |
Source: Ownwell
Property Tax Assessment Values Across Shiloh, New Jersey
In Shiloh, 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 Cumberland 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 Shiloh, 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 Shiloh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 08353, with a median tax bill of $4,539.
Average Shiloh Assessed Value
$169,140
Average Cumberland County Assessed Value
$168,564
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shiloh, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08353 | $116,347 | $138,584 | $169,140 | $206,385 | $259,126 |
Source: Ownwell
Property Tax Bills Across Shiloh, New Jersey
In Shiloh, Cumberland 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 intended to reflect the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For homeowners in Shiloh, the median home price is $169,140. Property tax bills can vary significantly, with the 25th percentile at $3,719 and the 75th percentile at $5,539. At the 90th percentile, homeowners may pay up to $6,954 annually. These figures indicate that property taxes in Shiloh can be a substantial expense for homeowners, especially when compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual tax obligations and budget accordingly. High property taxes can impact the affordability of homeownership, influencing decisions on purchasing or retaining property in the area.
Average Shiloh Tax Bill
$4,539
Average Cumberland County Tax Bill
$4,561
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Shiloh, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08353 | $3,123 | $3,719 | $4,539 | $5,539 | $6,954 |
Source: Ownwell