Hainesport, New Jersey Property Taxes
The median property tax rate in Hainesport, NJ is 2.51%, 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 Hainesport at $260,200, the typical annual property tax bill reaches $6,516, significantly exceeding the national median of $2,690. Property taxes in Hainesport 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 Hainesport'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 Hainesport 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
Hainesport, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.51%
Estimate Property Tax Bill
$6,531
$6,061
Ownwell’s Hainesport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hainesport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hainesport 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 Hainesport, New Jersey
Property taxes in Hainesport, 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 Hainesport is 2.51%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Hainesport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hainesport 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. Understanding how Hainesport's effective property tax rate compares to other counties in New Jersey and the national median 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 Hainesport Tax Rate
2.51%
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 Hainesport, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08036 | 2.50% | 2.50% | 2.50% | 2.51% | 2.51% |
Source: Ownwell
Property Tax Assessment Values Across Hainesport, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hainesport, New Jersey. The market value represents 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. Assessment notices in Hainesport 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 Hainesport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 08036 has both the highest and lowest median tax bill at $6,516.
Average Hainesport Assessed Value
$260,200
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 Hainesport, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08036 | $141,280 | $182,700 | $260,200 | $375,200 | $434,140 |
Source: Ownwell
Property Tax Bills Across Hainesport, New Jersey
In Hainesport, NJ, property tax bills are determined by the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the tax rate set by Burlington County. Homeowners in Hainesport experience a range of property tax bills, with the 25th percentile at $4,577 and the 75th percentile reaching $9,399. The 90th percentile tax bill can be as high as $10,875. This variation is influenced by factors such as property size, location, and any applicable exemptions or deductions. The median home price in Hainesport is $260,200, and the median tax bill is $6,516, which is significantly higher than the national median property tax rate of 0.99%. These property taxes fund essential public services like schools, emergency services, and infrastructure, directly impacting the quality of life in the community. For homeowners, understanding how these factors influence their tax bill can help in financial planning and property investment decisions.
Average Hainesport Tax Bill
$6,516
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 Hainesport, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08036 | $3,548 | $4,577 | $6,516 | $9,399 | $10,875 |
Source: Ownwell