Turnersville, New Jersey Property Taxes
The median property tax rate in Turnersville, NJ is 3.35%, 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 Turnersville at $250,967, the typical annual property tax bill reaches $8,396, significantly exceeding the national median of $2,690. Property taxes in Turnersville 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 Turnersville'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 Turnersville 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
Turnersville, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.35%
Estimate Property Tax Bill
$8,407
$7,802
Ownwell’s Turnersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Turnersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Turnersville 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 Turnersville, New Jersey
Property taxes in Turnersville, NJ, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Turnersville is 3.35%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Turnersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Turnersville 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 Turnersville's effective property tax rate to other areas in Camden County and the national median. For comparison, the zip code 08012 has both the highest and lowest median property tax rate of 3.35%. Understanding how these areas compare with Turnersville 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 Turnersville Tax Rate
3.35%
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 Turnersville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08012 | 3.35% | 3.35% | 3.35% | 3.35% | 3.35% |
Source: Ownwell
Property Tax Assessment Values Across Turnersville, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Turnersville, NJ. 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 local 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 Turnersville, 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 Turnersville is $250,967, with tax bills ranging from $8,319 at the 25th percentile to $9,306 at the 75th percentile. The highest and lowest median tax bills are both $8,396, found in the 08012 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Turnersville, New Jersey
Source: Ownwell
$54,570
$257,531
$460,492
Average Turnersville Assessed Value
$250,967
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 Turnersville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08012 | $247,276 | $248,660 | $250,967 | $278,145 | $294,452 |
Source: Ownwell
Property Tax Bills Across Turnersville, New Jersey
In Turnersville, 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 assessor and reflects the market value of the property. Homeowners in Turnersville face property tax bills that are significantly higher than the national median property tax rate of 0.99%. For instance, the median home price in Turnersville is $250,967, leading to substantial tax bills. Factors influencing the tax bill include property size, location, and any improvements made to the property. The tax bill also funds essential public services such as schools, emergency services, and infrastructure maintenance. For homeowners, this can mean a tax bill ranging from $8,319 at the 25th percentile to $9,851 at the 90th percentile. The highest median tax bill recorded is $8,396 in the 08012 zip code. These high property tax bills can impact homeowners' budgets, making it crucial to understand and potentially appeal assessed values to ensure fair taxation.
Average Turnersville Tax Bill
$8,396
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 Turnersville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08012 | $8,273 | $8,319 | $8,396 | $9,306 | $9,851 |
Source: Ownwell