Willingboro, New Jersey Property Taxes
The median property tax rate in Willingboro, NJ is 3.99%, 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 Willingboro at $155,000, the typical annual property tax bill reaches $6,183, exceeding the national median of $2,690. Property taxes in Willingboro 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 Willingboro'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 Willingboro 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
Willingboro, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.99%
Estimate Property Tax Bill
$6,185
Ownwell’s Willingboro Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Willingboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Willingboro to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, ensuring you're well-prepared for any financial obligations. For those interested in neighborhood-level trends, additional localized information is available. Your property’s assessed value, determined by Burlington County, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Willingboro, New Jersey
Property taxes in Willingboro, 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 Willingboro is 3.99%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Willingboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Willingboro 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 Willingboro's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08046 zip code has the highest median property tax rate of 3.99%, while the 08046 zip code also has the lowest median tax rate of 3.99%. Understanding how these cities compare with Willingboro 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 Willingboro Tax Rate
3.99%
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 Willingboro, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08046 | 3.99% | 3.99% | 3.99% | 3.99% | 3.99% |
Source: Ownwell
Property Tax Assessment Values Across Willingboro, New Jersey
In Willingboro, 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 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 Willingboro, 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. The median home price in Willingboro is $155,000, with property tax bills ranging from $5,417 at the 25th percentile to $8,166 at the 90th percentile. The highest and lowest median tax bills in the area are both $6,183, found in the 08046 zip code. 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 Willingboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Willingboro, New Jersey
Source: Ownwell
$151,800
$279,500
$407,200
Average Willingboro Assessed Value
$155,000
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 Willingboro, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08046 | $118,700 | $135,800 | $155,000 | $176,900 | $204,800 |
Source: Ownwell
Property Tax Bills Across Willingboro, New Jersey
In Willingboro, Burlington County, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors influencing the assessed value include the property's market value, location, size, and any improvements or renovations made. Homeowners in Willingboro face significant property tax bills, with the median home price at $155,000. The tax bill at the 25th percentile is $5,417, while it rises to $7,057 at the 75th percentile and reaches $8,166 at the 90th percentile. The highest and lowest median tax bills in the area are both $6,183, reflecting consistent tax rates within the 08046 zip code. These property taxes can have a substantial impact on homeowners, often being a significant portion of their annual expenses. Compared to the national median property tax rate of 0.99%, Willingboro's property tax rates are relatively high, emphasizing the importance of understanding and managing these costs effectively.
Average Willingboro Tax Bill
$6,183
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 Willingboro, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08046 | $4,735 | $5,417 | $6,183 | $7,057 | $8,166 |
Source: Ownwell