Blue Anchor, New Jersey Property Taxes
The median property tax rate in Blue Anchor, 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 Blue Anchor at $237,144, the typical annual property tax bill reaches $6,990, far exceeding the national median of $2,690. Property taxes in Blue Anchor are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Blue Anchor'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 Blue Anchor 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
Blue Anchor, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.95%
Estimate Property Tax Bill
$6,996
Ownwell’s Blue Anchor Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Blue Anchor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blue Anchor to provide an estimate of your 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 the value assigned by Camden County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Blue Anchor, New Jersey
Property taxes in Blue Anchor, New Jersey, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Blue Anchor is 2.95%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Blue Anchor set these rates annually, and they can vary across different neighborhoods. Each year, Blue Anchor 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 Blue Anchor's effective property tax rate to other areas in Camden County and the national median. For comparison, the zip code 08037 has both the highest and lowest median property tax rate of 2.95%. Understanding how these areas compare with Blue Anchor provides valuable insights into the varying tax landscape across Camden County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blue Anchor Tax Rate
2.95%
Average Camden County Tax Rate
3.17%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blue Anchor, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08037 | 2.95% | 2.95% | 2.95% | 2.95% | 2.95% |
Source: Ownwell
Property Tax Assessment Values Across Blue Anchor, New Jersey
In Blue Anchor, 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 Camden 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 Blue Anchor, 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 Blue Anchor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Blue Anchor are both $6,990, found in the zip code 08037.
Average Blue Anchor Assessed Value
$237,144
Average Camden County Assessed Value
$216,803
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blue Anchor, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08037 | $197,654 | $215,620 | $237,144 | $338,059 | $360,897 |
Source: Ownwell
Property Tax Bills Across Blue Anchor, New Jersey
Property tax bills in Blue Anchor, Camden County, NJ, are calculated based on the assessed value of a property, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in Blue Anchor can expect to pay a median property tax bill of $6,990. For homes priced at the 25th percentile, the tax bill is around $6,356, while those at the 75th percentile see bills closer to $9,965. The 90th percentile tax bill reaches up to $10,638. These figures are significantly higher than the national median property tax rate of 0.99%, reflecting the area's higher property values and tax rates. Property taxes in Blue Anchor are influenced by factors such as local government budgets, school district funding, and municipal services, which all contribute to the overall tax rate. This means homeowners in Blue Anchor need to budget carefully to accommodate these higher-than-average property tax expenses.
Average Blue Anchor Tax Bill
$6,990
Average Camden County Tax Bill
$7,089
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Blue Anchor, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08037 | $5,826 | $6,356 | $6,990 | $9,965 | $10,638 |
Source: Ownwell