Erial, New Jersey Property Taxes
The median property tax rate in Erial, NJ is 3.33%, 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 Erial at $190,749, the typical annual property tax bill reaches $6,450, far exceeding the national median of $2,690. Property taxes in Erial 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 Erial'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 Erial 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
Erial, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.33%
Estimate Property Tax Bill
$6,352
$5,894
Ownwell’s Erial Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Erial with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Erial 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 Erial, New Jersey
Property taxes in Erial, New Jersey, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Erial is 3.33%, significantly higher than the U.S. national median of 0.99%. Local government entities within Erial set these rates annually, and they can vary significantly across different neighborhoods. Each year, Erial 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 Erial's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08081 ZIP code has the highest median property tax rate of 3.33%, while the same ZIP code also has the lowest median tax rate of 3.33%. Understanding how these cities compare with Erial 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 Erial Tax Rate
3.33%
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 Erial, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08081 | 2.95% | 2.95% | 3.33% | 3.38% | 3.38% |
Source: Ownwell
Property Tax Assessment Values Across Erial, New Jersey
In Erial, 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 Erial, 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 Erial helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Erial are both $6,450 in zip code 08081.
Average Erial Assessed Value
$190,749
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 Erial, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08081 | $84,985 | $87,318 | $190,749 | $237,190 | $253,784 |
Source: Ownwell
Property Tax Bills Across Erial, New Jersey
In Erial, Camden County, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is then multiplied by the property tax rate set by the local government. For homeowners in Erial, the median home price is $190,749. Property tax bills can vary significantly, with the 25th percentile paying around $2,574 and the 75th percentile facing bills as high as $8,021. At the 90th percentile, tax bills can reach up to $8,582. These tax bills are influenced by several factors, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. Higher property tax bills can impact homeowners by increasing their monthly housing costs, potentially affecting affordability. In Erial, the highest and lowest median tax bills are both $6,450, highlighting a significant range in what residents might owe. Comparing this to the national median property tax rate of 0.99%, it's clear that property taxes in Erial can be relatively high.
Average Erial Tax Bill
$6,450
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 Erial, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08081 | $2,505 | $2,574 | $6,450 | $8,021 | $8,582 |
Source: Ownwell