Pine Hill, New Jersey Property Taxes
The median property tax rate in Pine Hill, NJ is 3.93%, 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 Pine Hill at $157,807, the typical annual property tax bill reaches $6,160, exceeding the national median of $2,690. Property taxes in Pine Hill 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 Pine Hill'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 Pine Hill 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
Pine Hill, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.93%
Estimate Property Tax Bill
$6,202
Ownwell’s Pine Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pine Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pine Hill 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 Pine Hill, New Jersey
Property taxes in Pine Hill, 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 Pine Hill is 3.93%, significantly higher than both the New Jersey state median of 2.21% and the U.S. national median of 0.99%. Local government entities within Pine Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pine Hill 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 Pine Hill's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08021 zip code has the highest median property tax rate of 3.93%, while the same zip code also has the lowest median tax rate of 3.93%. Understanding how these cities compare with Pine Hill 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 Pine Hill Tax Rate
3.93%
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 Pine Hill, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08021 | 3.93% | 3.93% | 3.93% | 3.93% | 3.93% |
Source: Ownwell
Property Tax Assessment Values Across Pine Hill, New Jersey
In Pine Hill, New Jersey, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. 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 Camden County 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. Assessment notices in Pine Hill 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. The median home price in Pine Hill is $157,807, with tax bills varying significantly across the area. For instance, the 25th percentile tax bill is $4,762, while the 75th percentile reaches $7,194. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Awareness of these processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pine Hill Assessed Value
$157,807
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 Pine Hill, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08021 | $98,560 | $121,470 | $157,807 | $185,493 | $212,126 |
Source: Ownwell
Property Tax Bills Across Pine Hill, New Jersey
In Pine Hill, 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 Camden County tax assessor and is meant to reflect the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Pine Hill, the median home price is $157,807. The property tax rate in this area is significantly higher than the national median property tax rate of 0.99%. As a result, homeowners face substantial tax bills. For instance, the 25th percentile tax bill is $4,762, while the 75th percentile tax bill reaches $7,194. At the 90th percentile, the tax bill can be as high as $8,284. These high property taxes can impact homeowners by increasing the overall cost of owning a home and potentially affecting the affordability of living in Pine Hill. Homeowners need to be aware of these factors when budgeting for their annual expenses.
Average Pine Hill Tax Bill
$6,160
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 Pine Hill, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08021 | $3,875 | $4,762 | $6,160 | $7,194 | $8,284 |
Source: Ownwell