Chesilhurst, New Jersey Property Taxes
The median property tax rate in Chesilhurst, NJ is 3.35%, 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 Chesilhurst at $195,572, the typical annual property tax bill reaches $6,548, significantly exceeding the national median of $2,690. Property taxes in Chesilhurst 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 Chesilhurst'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 Chesilhurst or another part of Camden County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chesilhurst, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.35%
Estimate Property Tax Bill
$6,552
Ownwell’s Chesilhurst Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chesilhurst with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chesilhurst 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 Chesilhurst, New Jersey
Property taxes in Chesilhurst, New Jersey, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chesilhurst is 3.35%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Chesilhurst set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chesilhurst 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 Chesilhurst's effective property tax rate to other areas in Camden County and the national median. For comparison, the zip code 08089 has the highest median property tax rate of 3.35%, while the same zip code also has the lowest median tax rate of 3.35%. Understanding how these areas compare with Chesilhurst provides valuable insights into the varying tax landscape across Camden County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chesilhurst Tax Rate
3.35%
Average Camden County Tax Rate
3.17%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chesilhurst, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08089 | 3.35% | 3.35% | 3.35% | 3.35% | 3.35% |
Source: Ownwell
Property Tax Assessment Values Across Chesilhurst, New Jersey
In Chesilhurst, 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 Camden 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 Chesilhurst, 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. For instance, the median home price in Chesilhurst is $195,572, with tax bills ranging significantly. The 25th percentile tax bill is $5,697, while the 75th percentile is $7,383, and the 90th percentile reaches $8,469. Notably, the zip code 08089 has both the highest and lowest median tax bill at $6,548. Being aware of these valuation processes in Chesilhurst helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Chesilhurst Assessed Value
$195,572
Average Camden County Assessed Value
$216,803
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chesilhurst, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08089 | $154,715 | $170,251 | $195,572 | $220,205 | $252,592 |
Source: Ownwell
Property Tax Bills Across Chesilhurst, New Jersey
In Chesilhurst, Camden County, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Chesilhurst is $195,572, and the tax rate is applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include property size, location, and any improvements made to the property. Homeowners in Chesilhurst can expect a significant range in their property tax bills. For instance, those in the 25th percentile pay around $5,697 annually, while those in the 75th percentile face bills closer to $7,383. The top 10% of homeowners see tax bills as high as $8,469. These property taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Chesilhurst's rates are relatively high, impacting homeowners' overall cost of living and financial planning.
Average Chesilhurst Tax Bill
$6,548
Average Camden County Tax Bill
$7,089
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Chesilhurst, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08089 | $5,187 | $5,697 | $6,548 | $7,383 | $8,469 |
Source: Ownwell