Bordentown Township, New Jersey Property Taxes
The median property tax rate in Bordentown Township, NJ is 3.49%, significantly higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With a median home value of $260,600, the typical annual property tax bill reaches $9,100, far exceeding the national median of $2,690. Property taxes in Bordentown Township are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Bordentown Township'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 Bordentown Township or another part of the area, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bordentown Township, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.49%
Estimate Property Tax Bill
$9,095
$8,440
Ownwell’s Bordentown Township Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Bordentown Township with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Bordentown Township to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available. Your property’s assessed value is determined by Burlington County for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Bordentown Township, New Jersey
Property taxes in Bordentown Township, NJ, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bordentown Township is 3.49%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Bordentown Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bordentown Township 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 Bordentown Township's effective property tax rate to other areas in New Jersey and the national median. For comparison, the 08620 zip code has the highest median property tax rate of 3.49%, while the same zip code also reflects the lowest median tax rate of 3.49%. Understanding how these areas compare with Bordentown Township 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 Bordentown Township Tax Rate
3.49%
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 Bordentown Township, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08620 | 3.49% | 3.49% | 3.49% | 3.49% | 3.56% |
Source: Ownwell
Property Tax Assessment Values Across Bordentown Township, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bordentown Township, NJ. 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 Bordentown Township, 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. For example, the median home price in the area is $260,600, with tax bills ranging from $8,259 at the 25th percentile to $10,306 at the 90th percentile. The zip code 08620 has the highest and lowest median tax bill of $9,100. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Bordentown Township, New Jersey
Source: Ownwell
$151,800
$279,500
$407,200
Average Bordentown Township Assessed Value
$260,600
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 Bordentown Township, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08620 | $227,560 | $236,500 | $260,600 | $283,900 | $295,140 |
Source: Ownwell
Property Tax Bills Across Bordentown Township, New Jersey
In Bordentown Township, located in Burlington County, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local tax assessor and is meant to reflect the market value of the property. Bordentown Township has a property tax rate that is significantly higher than the national median property tax rate of 0.99%, leading to substantial tax bills for homeowners. Several factors influence the tax bill, including the home's assessed value, any applicable exemptions, and the local tax rate. For instance, the median home price in Bordentown Township is $260,600. Homeowners in the 25th percentile of tax bills pay around $8,259 annually, while those in the 75th percentile pay approximately $9,940. The 90th percentile sees tax bills reaching up to $10,306. These figures highlight how property taxes can significantly impact household budgets, especially in regions with higher tax rates. Homeowners should be aware of these factors to better manage their financial planning and potential appeal opportunities.
Average Bordentown Township Tax Bill
$9,100
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 Bordentown Township, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08620 | $7,937 | $8,259 | $9,100 | $9,940 | $10,306 |
Source: Ownwell