Wenonah, New Jersey Property Taxes
The median property tax rate in Wenonah, NJ, is 2.84%, significantly higher than both the national median of 0.99% and New Jersey's state median of 2.82%. With a median home value of $216,253 in Wenonah, the typical annual property tax bill reaches $6,260, far exceeding the national median of $2,690. Property taxes in Wenonah are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Wenonah'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 Wenonah or another part of Gloucester County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wenonah, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.84%
Estimate Property Tax Bill
$6,142
Ownwell’s Wenonah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wenonah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wenonah 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 Wenonah, New Jersey
Property taxes in Wenonah, New Jersey, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Wenonah is 2.84%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Wenonah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wenonah 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 Wenonah's effective property tax rate to other areas in Gloucester County and the national median. For comparison, the 08090 zip code has the highest median property tax rate of 2.84%, while also having the lowest median tax rate of 2.84%. Understanding how these figures compare with Wenonah 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 Wenonah Tax Rate
2.84%
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 Wenonah, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08090 | 2.84% | 2.84% | 2.84% | 3.50% | 3.50% |
Source: Ownwell
Property Tax Assessment Values Across Wenonah, New Jersey
In Wenonah, 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 Wenonah, 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 Wenonah helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 08090 has the highest and lowest median tax bill, both at $6,260, which is significantly higher than the national median property tax rate of 0.99%.
Average Wenonah Assessed Value
$216,253
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 Wenonah, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08090 | $171,582 | $187,370 | $216,253 | $272,453 | $348,628 |
Source: Ownwell
Property Tax Bills Across Wenonah, New Jersey
In Wenonah, Gloucester 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 property's market value. Homeowners in Wenonah see a wide range of tax bills, with the 25th percentile paying around $5,326, while those in the 75th percentile pay approximately $8,675. The highest tax bills, at the 90th percentile, reach up to $11,692. The median home price in Wenonah is $216,253, and the property tax rate in the area significantly impacts homeowners' financial responsibilities. Compared to the national median property tax rate of 0.99%, Wenonah's rates contribute to higher tax bills, reflecting the region's specific economic and property value conditions. This substantial property tax can influence homeowners' decisions on purchasing and maintaining properties in the area, affecting overall affordability and long-term financial planning.
Average Wenonah Tax Bill
$6,260
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 Wenonah, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08090 | $4,870 | $5,326 | $6,260 | $8,675 | $11,692 |
Source: Ownwell