Hi Nella, New Jersey Property Taxes
The median property tax rate in Hi Nella, NJ is 4.76%, 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 Hi Nella, the typical annual property tax bill reaches $8,617, exceeding the national median of $2,690. Property taxes in Hi Nella 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 Hi Nella'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 Hi Nella 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
Hi Nella, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.76%
Estimate Property Tax Bill
$8,609
Ownwell’s Hi Nella Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hi Nella with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hi Nella 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 Hi Nella, New Jersey
Property taxes in Hi Nella, New Jersey, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hi Nella is 4.76%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Hi Nella set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hi Nella 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 Hi Nella's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08083 zip code has the highest median property tax rate of 4.76%, while the 08083 zip code also has the lowest median tax rate of 4.76%. Understanding how these cities compare with Hi Nella 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 Hi Nella Tax Rate
4.76%
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 Hi Nella, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08083 | 4.76% | 4.76% | 4.76% | 4.76% | 4.76% |
Source: Ownwell
Property Tax Assessment Values Across Hi Nella, New Jersey
In Hi Nella, 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 Hi Nella, 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 Hi Nella helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bills is 08083, with a median tax bill of $8,617.
Average Hi Nella Assessed Value
$180,868
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 Hi Nella, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08083 | $180,868 | $180,868 | $180,868 | $180,868 | $180,868 |
Source: Ownwell
Property Tax Bills Across Hi Nella, New Jersey
In Hi Nella, Camden County, NJ, property tax bills are determined based on the assessed value of a home and the local tax rate. The median home price in this area is $180,868, and the property tax rate is significantly higher than the national median of 0.99%. Homeowners in Hi Nella can expect consistent tax bills, with amounts at the 25th, 75th, and 90th percentiles all being $8,617. This uniformity indicates a stable property tax environment. Factors influencing the tax bill include the assessed value of the property and any applicable exemptions or deductions. High property taxes can impact homeowners by increasing the overall cost of homeownership, which may affect budget planning and long-term financial stability. Despite the higher tax rate, the consistency in tax bills provides predictability for homeowners, allowing for better financial planning. Understanding these elements helps homeowners anticipate their annual financial obligations and manage their budgets accordingly.
Average Hi Nella Tax Bill
$8,617
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 Hi Nella, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08083 | $8,617 | $8,617 | $8,617 | $8,617 | $8,617 |
Source: Ownwell