Clementon, New Jersey Property Taxes
The median property tax rate in Clementon, NJ is 3.45%, significantly higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With the median home value in Clementon at $167,186, the typical annual property tax bill reaches $5,973, far exceeding the national median of $2,690. Property taxes in Clementon are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Clementon'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 Clementon or elsewhere in the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clementon, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.45%
Estimate Property Tax Bill
$5,768
Ownwell’s Clementon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clementon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clementon 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 Clementon, New Jersey
Property taxes in Clementon, NJ, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clementon is 3.45%, significantly higher than the U.S. national median of 0.99%. Local government entities within Clementon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clementon 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 Clementon's effective property tax rate to other areas in Camden County and the national median. For comparison, the 08021 zip code has the highest median property tax rate of 3.45%, while the same zip code also has the lowest median tax rate of 3.45%. Understanding how these cities compare with Clementon 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 Clementon Tax Rate
3.45%
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 Clementon, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08021 | 3.35% | 3.35% | 3.45% | 3.61% | 4.22% |
Source: Ownwell
Property Tax Assessment Values Across Clementon, New Jersey
In Clementon, 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 Clementon, 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. Being aware of these valuation processes in Clementon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 08021 has the highest and lowest median tax bill, both at $5,973, which is significantly higher than the national median property tax rate of 0.99%.
Average Clementon Assessed Value
$167,186
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 Clementon, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08021 | $65,703 | $126,950 | $167,186 | $249,594 | $288,492 |
Source: Ownwell
Property Tax Bills Across Clementon, New Jersey
In Clementon, located in Camden 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. The tax rate is set by local government entities and varies depending on budgetary needs for public services like schools, infrastructure, and emergency services. Homeowners in Clementon face a significant range in their property tax bills. For example, the tax bill at the 25th percentile is $4,654, while at the 75th percentile, it reaches $8,492. The 90th percentile sees even higher bills at $9,756. These figures are notably higher than the national median property tax rate of 0.99%, reflecting the higher property values and tax rates in the area. The financial impact on homeowners can be substantial, affecting affordability and long-term financial planning. High property taxes can influence decisions on buying or selling homes and can be a key factor in family budgeting.
Average Clementon Tax Bill
$5,973
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 Clementon, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08021 | $2,401 | $4,654 | $5,973 | $8,492 | $9,756 |
Source: Ownwell