Delaware, New Jersey Property Taxes
The median property tax rate in Delaware, NJ is 3.68%, 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 Delaware at $139,000, the typical annual property tax bill reaches $5,118, exceeding the national median of $2,690. Property taxes in Delaware 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 Delaware'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 Delaware 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
Delaware, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.68%
Estimate Property Tax Bill
$5,115
Ownwell’s Delaware Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Delaware with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Delaware 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 Warren County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Delaware, New Jersey
Property taxes in Delaware, 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 Delaware is 3.68%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Delaware set these rates annually, and they can vary significantly across different neighborhoods. Each year, Delaware 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 Delaware's effective property tax rate to other regions in New Jersey and the national median. For comparison, the ZIP code 07833 has the same median property tax rate of 3.68%. Understanding how these areas compare with Delaware provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Delaware Tax Rate
3.68%
Average Warren County Tax Rate
3.47%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Delaware, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07833 | 3.68% | 3.68% | 3.68% | 3.68% | 3.68% |
Source: Ownwell
Property Tax Assessment Values Across Delaware, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Delaware, New Jersey. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the local 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 Delaware, 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 Delaware helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 07833 has the highest and lowest median tax bill, both at $5,118.
Average Delaware Assessed Value
$139,000
Average Warren County Assessed Value
$207,000
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Delaware, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07833 | $56,150 | $106,400 | $139,000 | $209,500 | $236,290 |
Source: Ownwell
Property Tax Bills Across Delaware, New Jersey
Property tax bills in Delaware, NJ, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the Warren County assessor's office and is intended to reflect a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or abatements. For instance, the median home price in Delaware is $139,000. Homeowners in the 25th percentile can expect an annual tax bill of approximately $3,918, while those in the 75th percentile might pay around $7,714. At the 90th percentile, the tax bill can reach up to $8,700. These property taxes significantly impact homeowners, often representing a substantial portion of their annual expenses. Comparatively, Delaware's property tax rates are higher than the national median property tax rate of 0.99%, highlighting the importance of understanding local tax obligations.
Average Delaware Tax Bill
$5,118
Average Warren County Tax Bill
$6,901
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Delaware, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07833 | $2,067 | $3,918 | $5,118 | $7,714 | $8,700 |
Source: Ownwell