Haddon Heights, New Jersey Property Taxes
The median property tax rate in Haddon Heights, NJ is 3.15%, 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 Haddon Heights at $296,104, the typical annual property tax bill reaches $9,351, far exceeding the national median of $2,690. Property taxes in Haddon Heights 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 Haddon Heights' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Haddon Heights 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
Haddon Heights, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.15%
Estimate Property Tax Bill
$9,327
$8,655
Ownwell’s Haddon Heights Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Haddon Heights with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Haddon Heights 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 Haddon Heights, New Jersey
Property taxes in Haddon Heights, New Jersey, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Haddon Heights is 3.15%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Haddon Heights set these rates annually, and they can vary significantly across different neighborhoods. Each year, Haddon Heights 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 Haddon Heights' effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08035 zip code has the highest median property tax rate of 3.15%, while the 08035 zip code also has the lowest median tax rate of 3.15%. Understanding how these cities compare with Haddon Heights 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 Haddon Heights Tax Rate
3.15%
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 Haddon Heights, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08035 | 3.15% | 3.15% | 3.15% | 3.15% | 3.15% |
Source: Ownwell
Property Tax Assessment Values Across Haddon Heights, New Jersey
In Haddon Heights, 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. 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 Haddon Heights helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $296,104, with tax bills ranging from $7,744 at the 25th percentile to $14,113 at the 90th percentile. The highest and lowest median tax bills are both $9,351 in zip code 08035.
Property Tax Assessment Values Across Haddon Heights, New Jersey
Source: Ownwell
$54,570
$257,531
$460,492
Average Haddon Heights Assessed Value
$296,104
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 Haddon Heights, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08035 | $213,349 | $245,279 | $296,104 | $361,497 | $447,340 |
Source: Ownwell
Property Tax Bills Across Haddon Heights, New Jersey
In Haddon Heights, 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 local assessors who evaluate the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, the median home price in Haddon Heights is $296,104, and the property tax rate can result in substantial tax bills. Homeowners at the 25th percentile pay around $7,744, while those at the 75th percentile see bills of approximately $11,403. At the 90th percentile, the tax bill can reach up to $14,113. The highest and lowest median tax bills in the area are both $9,351, indicating a consistent tax rate across different properties. These property taxes significantly impact homeowners, influencing their overall housing costs and financial planning. Comparing this to the national median property tax rate of 0.99%, it's clear that property taxes in Haddon Heights are considerably higher.
Average Haddon Heights Tax Bill
$9,351
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 Haddon Heights, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08035 | $6,740 | $7,744 | $9,351 | $11,403 | $14,113 |
Source: Ownwell