Birmingham, New Jersey Property Taxes
The median property tax rate in Birmingham, NJ is 2.66%, 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 Birmingham at $348,800, the typical annual property tax bill reaches $9,285, exceeding the national median of $2,690. Property taxes in Birmingham 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 Birmingham'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 Birmingham 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
Birmingham, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.66%
Estimate Property Tax Bill
$9,278
$8,610
Ownwell’s Birmingham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Birmingham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Birmingham 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 Birmingham, New Jersey
Property taxes in Birmingham, 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 Birmingham is 2.66%, significantly higher than the U.S. national median of 0.99%. Local government entities within Birmingham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Birmingham 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 Birmingham's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08011 zip code has both the highest and lowest median property tax rate of 2.66%. Understanding how these cities compare with Birmingham provides valuable insights into the varying tax landscape across Burlington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Birmingham Tax Rate
2.66%
Average Burlington County Tax Rate
3.07%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Birmingham, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08011 | 2.66% | 2.66% | 2.66% | 2.66% | 2.66% |
Source: Ownwell
Property Tax Assessment Values Across Birmingham, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Birmingham, New Jersey. 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 Burlington 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 Birmingham, 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. The median home price in Birmingham is $348,800, with the highest and lowest median tax bills both being $9,285 in the zip code 08011. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Birmingham Assessed Value
$348,800
Average Burlington County Assessed Value
$210,600
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Birmingham, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08011 | $348,800 | $348,800 | $348,800 | $348,800 | $348,800 |
Source: Ownwell
Property Tax Bills Across Birmingham, New Jersey
In Birmingham, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is applied to this assessed value to determine the annual tax bill. For Birmingham homeowners, the median home price stands at $348,800. The tax rate in Burlington County is significantly higher than the national median property tax rate of 0.99%. Homeowners in Birmingham face a median tax bill of $9,285, which is consistent across various percentiles, indicating a uniformity in tax assessments within the area. Several factors influence the final tax bill, including property size, location, and any improvements made to the home. This high tax rate can have a substantial impact on homeowners, potentially affecting their financial planning and overall cost of living. For those in the zip code 08011, the property tax burden is notably high, reflecting the area's higher-than-average property values and tax rates. This uniformity in tax bills highlights the importance of understanding local property tax regulations and seeking potential exemptions or appeals when necessary.
Average Birmingham Tax Bill
$9,285
Average Burlington County Tax Bill
$6,846
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Birmingham, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08011 | $9,285 | $9,285 | $9,285 | $9,285 | $9,285 |
Source: Ownwell