Judith Gap, New Jersey Property Taxes
The median property tax rate in Judith Gap, NJ is 4.22%, 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 Judith Gap at $64,820, the typical annual property tax bill reaches $2,735, slightly above the national median of $2,690. Property taxes in Judith Gap are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Judith Gap'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 Judith Gap 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
Judith Gap, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.22%
Estimate Property Tax Bill
$2,735
Ownwell’s Judith Gap Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Judith Gap with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Judith Gap 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 Judith Gap, New Jersey
Property taxes in Judith Gap, 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 Judith Gap is 4.22%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Judith Gap set these rates annually, and they can vary significantly across different neighborhoods. Each year, Judith Gap 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 Judith Gap's effective property tax rate to other counties in New Jersey and the national median. For comparison, the ZIP code 59453 has the highest median property tax rate of 4.22%, while the lowest median tax rate is also 4.22% in the same ZIP code. Understanding how these areas compare with Judith Gap 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 Judith Gap Tax Rate
4.22%
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 Judith Gap, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59453 | 4.22% | 4.22% | 4.22% | 4.22% | 4.22% |
Source: Ownwell
Property Tax Assessment Values Across Judith Gap, New Jersey
In Judith Gap, 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 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 Judith Gap, 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. Judith Gap has a median home price of $64,820. The median tax bill stands at $2,735, with the highest and lowest median tax bills both found in the 59453 zip code, also at $2,735. 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 Judith Gap helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Judith Gap Assessed Value
$64,820
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 Judith Gap, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59453 | $64,820 | $64,820 | $64,820 | $64,820 | $64,820 |
Source: Ownwell
Property Tax Bills Across Judith Gap, New Jersey
In Judith Gap, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is a percentage of the market value of the property. For homeowners in Judith Gap, the median home price is $64,820. Tax rates are then applied to this assessed value to calculate the annual property tax bill. In Camden County, where Judith Gap is located, the median property tax bill stands at $2,735. This figure is significantly higher than the national median property tax rate of 0.99%, reflecting the local rates and values. Factors influencing the tax bill include property improvements, neighborhood developments, and changes in market conditions. High property tax bills can impact homeowners by increasing the cost of homeownership, potentially affecting affordability and influencing decisions about buying or selling property. Understanding how these taxes are calculated helps homeowners plan better and potentially explore options for appeal or exemptions.
Average Judith Gap Tax Bill
$2,735
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 Judith Gap, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 59453 | $2,735 | $2,735 | $2,735 | $2,735 | $2,735 |
Source: Ownwell