Sewell, New Jersey Property Taxes
The median property tax rate in Sewell, NJ, is 2.83%, 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 Sewell at $304,265, the typical annual property tax bill reaches $8,549, exceeding the national median of $2,690. Property taxes in Sewell 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 Sewell'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 Sewell 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
Sewell, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.83%
Estimate Property Tax Bill
$8,611
Ownwell’s Sewell Property Tax Bill Calculator aids homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Sewell with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Sewell to provide an estimated property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Sewell, New Jersey
Property taxes in Sewell, New Jersey, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sewell is 2.83%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Sewell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sewell 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 Sewell's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08080 zip code has the highest median property tax rate of 2.83%, while it also has the lowest median tax rate of 2.83%. Understanding how these cities compare with Sewell provides valuable insights into the varying tax landscape across Gloucester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sewell Tax Rate
2.83%
Average Gloucester County Tax Rate
2.83%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sewell, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08080 | 2.64% | 2.83% | 2.83% | 2.83% | 2.83% |
Source: Ownwell
Property Tax Assessment Values Across Sewell, New Jersey
In Sewell, 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 Gloucester 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 Sewell, 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. For example, in Sewell's 08080 zip code, the median tax bill is $8,549. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sewell Assessed Value
$304,265
Average Gloucester County Assessed Value
$246,529
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sewell, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08080 | $162,224 | $234,704 | $304,265 | $379,538 | $457,510 |
Source: Ownwell
Property Tax Bills Across Sewell, New Jersey
In Sewell, Gloucester County, NJ, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the local tax assessor and is intended to reflect the market value of the property. Homeowners in Sewell face property tax bills that can vary significantly. For example, the 25th percentile tax bill is around $6,502, while the 75th percentile reaches $10,608. At the 90th percentile, homeowners might see bills as high as $12,694. These figures are notably higher than the national median property tax rate of 0.99%, reflecting the higher property values and tax rates in the area. The median home price in Sewell stands at $304,265, influencing the overall tax burden. For homeowners, these property taxes fund essential local services such as schools, infrastructure, and public safety, making them a crucial component of community well-being. However, the high tax bills can also be a significant financial consideration for both current and prospective homeowners.
Average Sewell Tax Bill
$8,549
Average Gloucester County Tax Bill
$7,106
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Sewell, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08080 | $4,581 | $6,502 | $8,549 | $10,608 | $12,694 |
Source: Ownwell