West Collingswood Heights, New Jersey Property Taxes
The median property tax rate in West Collingswood Heights, NJ is 3.01%, significantly higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With a median home value of $238,670, the typical annual property tax bill in West Collingswood Heights reaches $7,179, far exceeding the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding West Collingswood Heights' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of West Collingswood Heights or another part of Camden County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
West Collingswood Heights, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.01%
Estimate Property Tax Bill
$7,184
Ownwell’s WEST COLLINGSWOOD HEIGHTS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WEST COLLINGSWOOD HEIGHTS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WEST COLLINGSWOOD HEIGHTS 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 West Collingswood Heights, New Jersey
Property taxes in West Collingswood Heights, New Jersey, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Collingswood Heights is 3.01%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within West Collingswood Heights set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Collingswood Heights 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 West Collingswood Heights' effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 08059 has the highest median property tax rate of 3.01%, while the same zip code also has the lowest median tax rate of 3.01%. Understanding how these cities compare with West Collingswood Heights 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 West Collingswood Heights Tax Rate
3.01%
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 West Collingswood Heights, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08059 | 3.01% | 3.01% | 3.01% | 3.01% | 3.01% |
Source: Ownwell
Property Tax Assessment Values Across West Collingswood Heights, New Jersey
In West Collingswood Heights, 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. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In West Collingswood Heights, the highest and lowest median tax bills are both $7,179, found in the zip code 08059.
Property Tax Assessment Values Across West Collingswood Heights, New Jersey
Source: Ownwell
$54,570
$257,531
$460,492
Average West Collingswood Heights Assessed Value
$238,670
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 West Collingswood Heights, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08059 | $173,019 | $206,997 | $238,670 | $274,052 | $323,562 |
Source: Ownwell
Property Tax Bills Across West Collingswood Heights, New Jersey
In West Collingswood Heights, Camden County, NJ, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by local tax assessors who evaluate the market value of the property. The tax rate is set by local taxing authorities and is applied to the assessed value to determine the annual tax bill. For homeowners in West Collingswood Heights, the median home price is $238,670. Property tax bills can vary significantly, with the 25th percentile at $6,226 and the 75th percentile at $8,243. For those at the 90th percentile, tax bills can reach up to $9,732. The median property tax bill in this area is $7,179, which is notably higher than the national median property tax rate of 0.99%. High property tax bills can impact homeowners by increasing the overall cost of owning a home, potentially affecting affordability and long-term financial planning.
Average West Collingswood Heights Tax Bill
$7,179
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 West Collingswood Heights, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08059 | $5,204 | $6,226 | $7,179 | $8,243 | $9,732 |
Source: Ownwell