Delmont, New Jersey Property Taxes
The median property tax rate in Delmont, NJ is 2.73%, considerably higher than both the national median of 0.99% and New Jersey's state median of 2.82%. With the median home value in Delmont, the typical annual property tax bill reaches $3,925, exceeding the national median of $2,690. Property taxes in Delmont 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 Delmont'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 Delmont 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
Delmont, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.73%
Estimate Property Tax Bill
$3,986
Ownwell’s Delmont Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Delmont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Delmont 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 Delmont, New Jersey
Property taxes in Delmont, New Jersey, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Delmont is 2.73%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Delmont set these rates annually, and they can vary across different neighborhoods. Each year, Delmont 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 Delmont's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08314 zip code has the highest median property tax rate of 2.73% and the lowest median tax rate of 2.73%. Understanding how these cities compare with Delmont provides valuable insights into the varying tax landscape across Cumberland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Delmont Tax Rate
2.73%
Average Cumberland County Tax Rate
2.69%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Delmont, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08314 | 2.64% | 2.73% | 2.73% | 2.73% | 2.73% |
Source: Ownwell
Property Tax Assessment Values Across Delmont, New Jersey
In Delmont, 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 Cumberland 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. In Delmont, 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. Notably, Delmont's median home price stands at $146,016. The median tax bill ranges from $3,000 at the 25th percentile to $6,125 at the 90th percentile. Being aware of these valuation processes in Delmont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Delmont Assessed Value
$146,016
Average Cumberland County Assessed Value
$168,564
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Delmont, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08314 | $71,785 | $110,678 | $146,016 | $192,244 | $229,625 |
Source: Ownwell
Property Tax Bills Across Delmont, New Jersey
In Delmont, Cumberland County, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Delmont is $146,016. Homeowners in this area can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is approximately $3,000, while at the 75th percentile, it rises to $5,226. The tax bill at the 90th percentile can go up to $6,125. The assessment process considers various factors, including the property's size, location, and condition. These assessments are then multiplied by the local tax rate to determine the final tax bill. With a median tax bill of $3,925, Delmont's property taxes are higher than the national median property tax rate of 0.99%, impacting homeowners by increasing their annual expenses. This higher tax rate reflects the local government's need to fund public services and infrastructure, making it essential for homeowners to understand how their tax bills are determined.
Average Delmont Tax Bill
$3,925
Average Cumberland County Tax Bill
$4,561
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Delmont, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08314 | $1,959 | $3,000 | $3,925 | $5,226 | $6,125 |
Source: Ownwell