Eastampton, New Jersey Property Taxes
The median property tax rate in Eastampton, NJ is 3.18%, 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 Eastampton at $204,950, the typical annual property tax bill reaches $6,524, far exceeding the national median of $2,690. Property taxes in Eastampton 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 Eastampton'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 Eastampton or another part of Burlington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eastampton, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.18%
Estimate Property Tax Bill
$6,517
Ownwell’s Eastampton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eastampton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eastampton 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 Eastampton, New Jersey
Property taxes in Eastampton, New Jersey, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eastampton is 3.18%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Eastampton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eastampton 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 Eastampton's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 08060 has the highest median property tax rate of 3.18%, while the same zip code also has the lowest median tax rate of 3.18%. Understanding how these cities compare with Eastampton provides valuable insights into the varying tax landscape across Burlington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eastampton Tax Rate
3.18%
Average Burlington County Tax Rate
3.07%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eastampton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08060 | 3.18% | 3.18% | 3.18% | 3.18% | 3.18% |
Source: Ownwell
Property Tax Assessment Values Across Eastampton, New Jersey
In Eastampton, 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 Burlington County Tax Assessor 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 Eastampton, 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 Eastampton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 08060 consistently shows the highest and lowest median tax bills, both at $6,524, reflecting the uniformity in property tax charges across the city.
Average Eastampton Assessed Value
$204,950
Average Burlington County Assessed Value
$210,600
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eastampton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08060 | $194,000 | $195,000 | $204,950 | $216,850 | $217,700 |
Source: Ownwell
Property Tax Bills Across Eastampton, New Jersey
In Eastampton, Burlington County, NJ, property tax bills are calculated based on the assessed value of a home and the local property tax rate. The assessed value is determined by the local tax assessor and represents a percentage of the market value of the property. Homeowners in Eastampton face property tax bills that vary widely, with the 25th percentile tax bill at $6,207 and the 75th percentile reaching $6,902. The highest median tax bill in the area is $6,524, indicating a significant burden on homeowners. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. These taxes fund essential public services such as schools, infrastructure, and emergency services. With the national median property tax rate at 0.99%, Eastampton's tax rates and resulting bills can be relatively high, impacting homeowners' overall financial planning and cost of living. Understanding these factors is crucial for homeowners to manage their expenses effectively.
Average Eastampton Tax Bill
$6,524
Average Burlington County Tax Bill
$6,846
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Eastampton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08060 | $6,175 | $6,207 | $6,524 | $6,902 | $6,929 |
Source: Ownwell