Mickleton, New Jersey Property Taxes
The median property tax rate in Mickleton, NJ is 2.49%, 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 Mickleton at $436,420, the typical annual property tax bill reaches $10,881, far exceeding the national median of $2,690. Property taxes in Mickleton 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 Mickleton'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 Mickleton 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
Mickleton, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.49%
Estimate Property Tax Bill
$10,867
Ownwell’s Mickleton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mickleton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mickleton 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 Mickleton, New Jersey
Property taxes in Mickleton, 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 Mickleton is 2.49%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Mickleton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mickleton 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 Mickleton's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 08056 has the highest median property tax rate of 2.49%, while the same zip code also has the lowest median tax rate of 2.49%. Understanding how these cities compare with Mickleton provides valuable insights into the varying tax landscape across Gloucester, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mickleton Tax Rate
2.49%
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 Mickleton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08056 | 2.49% | 2.49% | 2.49% | 2.49% | 2.49% |
Source: Ownwell
Property Tax Assessment Values Across Mickleton, New Jersey
In Mickleton, 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 authorities 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 Mickleton, 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 Mickleton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Mickleton are both $10,881 in the 08056 zip code.
Average Mickleton Assessed Value
$436,420
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 Mickleton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08056 | $251,111 | $313,025 | $436,420 | $521,821 | $585,877 |
Source: Ownwell
Property Tax Bills Across Mickleton, New Jersey
In Mickleton, Gloucester County, NJ, property tax bills are determined based on the assessed value of a home, which is influenced by the market value and local assessment ratios. Homeowners in Mickleton can expect to pay a median property tax rate of 0.99%, aligning with the national median. The tax bill homeowners receive is calculated by multiplying the assessed value of their property by the local tax rate. Several factors play a role in determining the tax bill, including property size, location, and any improvements made to the home. For instance, the median home price in Mickleton is $436,420, leading to substantial tax bills. Homeowners at the 25th percentile pay around $7,804, while those at the 75th percentile see bills as high as $13,010. At the 90th percentile, tax bills can reach up to $14,607. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Therefore, understanding how property taxes are calculated can help homeowners better anticipate their annual expenses and plan accordingly.
Average Mickleton Tax Bill
$10,881
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 Mickleton, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08056 | $6,261 | $7,804 | $10,881 | $13,010 | $14,607 |
Source: Ownwell