Deptford, New Jersey Property Taxes
The median property tax rate in Deptford, NJ is 2.84%, 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 Deptford, the typical annual property tax bill reaches $5,316, exceeding the national median of $2,690. Property taxes in Deptford 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 Deptford'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 Deptford 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
Deptford, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.84%
Estimate Property Tax Bill
$5,045
Ownwell’s Deptford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Deptford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Deptford 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 Deptford, New Jersey
Property taxes in Deptford, New Jersey, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Deptford is 2.84%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities in Deptford set these rates annually, and they can vary across different neighborhoods. Each year, Deptford 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 Deptford's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08096 zip code has the highest median property tax rate of 2.84%, while the same zip code also has the lowest median tax rate of 2.84%. Understanding how these areas compare with Deptford provides valuable insights into the varying tax landscape across Gloucester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Deptford Tax Rate
2.84%
Average Gloucester County Tax Rate
2.83%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Deptford, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08096 | 2.84% | 2.84% | 2.84% | 2.84% | 3.87% |
Source: Ownwell
Property Tax Assessment Values Across Deptford, New Jersey
In Deptford, 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 Gloucester 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 Deptford, 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 Deptford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Deptford's median home price stands at $177,650. The median tax bill in the 25th percentile is $3,501, while the 75th percentile reaches $6,928, and the 90th percentile is $8,376. The highest and lowest median tax bills, both $5,316, are found in the 08096 zip code.
Average Deptford Assessed Value
$177,650
Average Gloucester County Assessed Value
$246,529
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Deptford, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08096 | $35,079 | $116,602 | $177,650 | $232,683 | $283,928 |
Source: Ownwell
Property Tax Bills Across Deptford, New Jersey
In Deptford, Gloucester County, NJ, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and aims to reflect the market value of the property. Homeowners in Deptford face varying tax bills, with the 25th percentile at $3,501, the 75th percentile at $6,928, and the 90th percentile reaching $8,376. These figures illustrate the range of property tax burdens across different property values. The median home price in Deptford is $177,650, and with the national median property tax rate at 0.99%, local tax rates are notably higher, contributing to significant tax bills for homeowners. The highest and lowest median tax bills in the area are both $5,316, indicating a relatively consistent tax burden across different neighborhoods within the same zip code, 08096. For homeowners, understanding these factors is crucial for financial planning and anticipating annual property tax obligations.
Average Deptford Tax Bill
$5,316
Average Gloucester County Tax Bill
$7,106
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Deptford, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08096 | $1,153 | $3,501 | $5,316 | $6,928 | $8,376 |
Source: Ownwell