Cherry Hill, Camden County, New Jersey Property Taxes
Median Cherry Hill, NJ effective property tax rate: 3.17%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median Cherry Hill, NJ home value: $281,089
Median annual Cherry Hill, NJ tax bill: $8,896, $6,496 higher than the national median property tax bill of $2,400.
How are property taxes in Camden calculated?
Property taxes in Cherry Hill, NJ are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Cherry Hill’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Cherry Hill, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Cherry Hill, Camden County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.17%
Estimate Property Tax Bill
$8,911
$8,269
Ownwell’s Cherry Hill Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cherry Hill with just two data points.
By entering your property's estimated assessed value, our calculator applies Cherry Hill’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value—determined by your county—reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Camden County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Cherry Hill, Camden County, New Jersey
Local government entities determine property tax rates, which can fluctuate significantly within a state. This variation arises because annually, each county calculates its necessary budget to fund services and divides that by the total value of all taxable properties within its area. This process establishes the property tax rate. While setting tax rates and budgets involves votes and legislation, this is essentially the yearly procedure.
In Cherry Hill, located in Camden County, property tax rates are notably high compared to other cities in New Jersey. Cherry Hill's effective property tax rate surpasses both the state's median and the national median. The national median property tax rate stands at 1.02%, highlighting the significant difference. Additionally, the national median property tax bill is $2,400, providing further perspective on how Cherry Hill's rates compare on a broader scale. By understanding these differences, property owners can better navigate the complexities of property taxes and make informed decisions. For those seeking to reduce their property tax burden, consulting with experts can be a valuable step.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Cherry Hill Tax Rate
3.17%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Camden County Tax Rate
3.17%
Median Effective New Jersey Tax Rate
2.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Cherry Hill, Camden County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08002 | 3.17% | 3.17% | 3.17% | 3.17% | 3.17% |
| 08003 | 3.17% | 3.17% | 3.17% | 3.17% | 3.17% |
| 08034 | 3.17% | 3.17% | 3.17% | 3.17% | 3.17% |
Source: Ownwell
Property Tax Assessment Values Across Cherry Hill, Camden County, New Jersey
When examining property taxes in Cherry Hill, NJ, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Camden County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Camden County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Cherry Hill.
For example, the median home price in Cherry Hill is $281,089, with tax bills ranging significantly across the county. 08003 has the highest median home price at $327,405.
Property Tax Assessment Values Across Cherry Hill, Camden County, New Jersey
Source: Ownwell
$54,570
$257,531
$460,492
Median Cherry Hill Market Value
$281,089
Median Camden County Market Value
$216,803
Median New Jersey Market Value
$282,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across Cherry Hill, Camden County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08002 | $67,020 | $199,137 | $249,370 | $291,108 | $336,164 |
| 08003 | $207,963 | $272,197 | $327,405 | $407,432 | $506,039 |
| 08034 | $153,815 | $211,580 | $258,262 | $316,523 | $370,803 |
Source: Ownwell
Property Tax Bills Across Cherry Hill, Camden County, New Jersey
Median Cherry Hill Tax Bill
$8,896
Median Camden County Tax Bill
$7,089
Median New Jersey Tax Bill
$8,227
Median United States Tax Bill
$2,400
Property Tax Bills Across Cherry Hill, Camden County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08002 | $2,122 | $6,295 | $7,883 | $9,198 | $10,605 |
| 08003 | $6,622 | $8,618 | $10,362 | $12,896 | $15,976 |
| 08034 | $4,933 | $6,711 | $8,173 | $10,013 | $11,724 |
Source: Ownwell