Linwood, New Jersey Property Taxes
The median property tax rate in Linwood, NJ is 3.64%, significantly higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With the median home value in Linwood at $250,900, the typical annual property tax bill reaches $9,128, far exceeding the national median of $2,690. Property taxes in Linwood are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Linwood'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 Linwood 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
Linwood, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.64%
Estimate Property Tax Bill
$9,133
$8,475
Ownwell's Linwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Linwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Linwood 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 Linwood, New Jersey
Property taxes in Linwood, NJ, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Linwood is 3.64%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Linwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Linwood 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 Linwood's effective property tax rate to other areas in New Jersey and the national median. For comparison, the 08221 zip code has the highest median property tax rate of 3.64%, while the same zip code also has the lowest median tax rate of 3.64%. Understanding how these areas compare with Linwood provides valuable insights into the varying tax landscape across Atlantic County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Linwood Tax Rate
3.64%
Average Atlantic County Tax Rate
3.23%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Linwood, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08221 | 3.64% | 3.64% | 3.64% | 3.64% | 3.64% |
Source: Ownwell
Property Tax Assessment Values Across Linwood, New Jersey
In Linwood, 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 Atlantic 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 Linwood, 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 Linwood 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 Linwood are both $9,128, found in zip code 08221.
Average Linwood Assessed Value
$250,900
Average Atlantic County Assessed Value
$186,700
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Linwood, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08221 | $157,950 | $195,225 | $250,900 | $347,325 | $479,540 |
Source: Ownwell
Property Tax Bills Across Linwood, New Jersey
In Linwood, NJ, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the local tax assessor and is intended to reflect the market value of the property. Homeowners in Linwood, located in Atlantic County, can expect a median home price of $250,900. The property tax rate in this area is significantly higher than the national median of 0.99%, leading to substantial tax bills. Several factors influence the final tax bill, including property size, location, and improvements made to the home. For instance, the 25th percentile tax bill is around $7,080, while the 75th percentile reaches $12,639. At the 90th percentile, homeowners might see tax bills as high as $17,447. These high property tax bills can significantly impact homeowners, making it crucial for them to understand their tax assessments and explore potential exemptions or appeals to manage their financial obligations better.
Average Linwood Tax Bill
$9,128
Average Atlantic County Tax Bill
$5,716
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Linwood, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08221 | $5,724 | $7,080 | $9,128 | $12,639 | $17,447 |
Source: Ownwell