Fieldsboro, New Jersey Property Taxes
The median property tax rate in Fieldsboro, NJ is 2.95%, 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 Fieldsboro at $181,000, the typical annual property tax bill reaches $5,334, exceeding the national median of $2,690. Property taxes in Fieldsboro 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 Fieldsboro'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 Fieldsboro 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
Fieldsboro, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.95%
Estimate Property Tax Bill
$5,340
Ownwell’s FIELDSBORO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FIELDSBORO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FIELDSBORO 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 Fieldsboro, New Jersey
Property taxes in Fieldsboro, New Jersey, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fieldsboro is 2.95%, significantly higher than the U.S. national median of 0.99%. Local government entities within Fieldsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fieldsboro 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 Fieldsboro's effective property tax rate to other areas in Burlington County and the national median. For comparison, the zip code 08505 has the highest median property tax rate of 2.95%, while the same zip code also has the lowest median tax rate of 2.95%. Understanding how these areas compare with Fieldsboro 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 Fieldsboro Tax Rate
2.95%
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 Fieldsboro, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08505 | 2.95% | 2.95% | 2.95% | 2.95% | 2.95% |
Source: Ownwell
Property Tax Assessment Values Across Fieldsboro, New Jersey
In Fieldsboro, 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 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 Fieldsboro, 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 Fieldsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Fieldsboro is $181,000, with the highest and lowest median tax bill both being $5,334 in the zip code 08505.
Average Fieldsboro Assessed Value
$181,000
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 Fieldsboro, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08505 | $142,060 | $156,200 | $181,000 | $228,125 | $283,880 |
Source: Ownwell
Property Tax Bills Across Fieldsboro, New Jersey
In FIELDSBORO, 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 county assessor and is meant to reflect the market value of the property. Factors such as the size of the property, location, and any improvements made can influence this assessed value. In Burlington County, homeowners can expect a median tax bill of $5,334. This is significantly higher than the national median property tax rate of 0.99%. The tax bill can vary widely, with the 25th percentile at $4,605 and the 75th percentile at $6,723, showing a considerable range based on property values and assessments. For those at the 90th percentile, the tax bill can reach up to $8,366. These property taxes contribute to local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan accordingly.
Average Fieldsboro Tax Bill
$5,334
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 Fieldsboro, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08505 | $4,201 | $4,605 | $5,334 | $6,723 | $8,366 |
Source: Ownwell