Glendora, New Jersey Property Taxes
The median property tax rate in Glendora, NJ is 3.28%, 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 Glendora at $219,673, the typical annual property tax bill reaches $7,198, far exceeding the national median of $2,690. Property taxes in Glendora are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Glendora'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 Glendora 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
Glendora, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.28%
Estimate Property Tax Bill
$7,205
$6,686
Ownwell’s Glendora Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glendora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glendora 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 Camden County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Glendora, New Jersey
Property taxes in Glendora, New Jersey, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glendora is 3.28%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Glendora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glendora 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 Glendora's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08029 zip code has the highest median property tax rate of 3.28%, while the 08029 zip code also has the lowest median tax rate of 3.28%. Understanding how these cities compare with Glendora 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 Glendora Tax Rate
3.28%
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 Glendora, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08029 | 3.28% | 3.28% | 3.28% | 3.28% | 3.28% |
Source: Ownwell
Property Tax Assessment Values Across Glendora, New Jersey
In Glendora, 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 Glendora, 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. The median home price in Glendora is $219,673, with tax bills ranging from $6,385 at the 25th percentile to $8,887 at the 90th percentile. The highest and lowest median tax bills are both $7,198 in the 08029 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Glendora Assessed Value
$219,673
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 Glendora, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08029 | $173,918 | $194,802 | $219,673 | $245,917 | $271,512 |
Source: Ownwell
Property Tax Bills Across Glendora, New Jersey
In Glendora, 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 aims to reflect the market value of the property. The tax rate, set by local government entities, is applied to the assessed value to calculate the annual tax bill. For homeowners in Glendora, the median home price is $219,673, and property tax bills can vary significantly. The 25th percentile of tax bills is around $6,385, while the 75th percentile reaches up to $8,058. At the 90th percentile, property tax bills can be as high as $8,887. Comparatively, the highest and lowest median tax bills in the area are both $7,198, showing some consistency in tax assessments. These property taxes fund essential local services such as schools, public safety, and infrastructure. However, higher tax bills can impact homeowners by increasing the overall cost of owning property, potentially affecting affordability and long-term financial planning.
Average Glendora Tax Bill
$7,198
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 Glendora, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08029 | $5,699 | $6,385 | $7,198 | $8,058 | $8,887 |
Source: Ownwell