Winslow, New Jersey Property Taxes
The median property tax rate in Winslow, NJ is 2.95%, 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 Winslow at $159,686, the typical annual property tax bill reaches $4,707, far exceeding the national median of $2,690. Property taxes in Winslow are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Winslow'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 Winslow 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
Winslow, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.95%
Estimate Property Tax Bill
$4,711
$4,371
Ownwell’s Winslow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winslow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winslow 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 Winslow, New Jersey
Property taxes in Winslow, 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 Winslow is 2.95%, significantly higher than the U.S. national median of 0.99%. Local government entities within Winslow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winslow 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 Winslow's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08095 zip code has the highest median property tax rate of 2.95%, while the same 08095 zip code also has the lowest median tax rate of 2.95%. Understanding how these cities compare with Winslow 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 Winslow Tax Rate
2.95%
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 Winslow, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08095 | 2.95% | 2.95% | 2.95% | 2.95% | 2.95% |
Source: Ownwell
Property Tax Assessment Values Across Winslow, New Jersey
In Winslow, 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 Board of Taxation 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 Winslow, 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 Winslow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 08095, with a median tax bill of $4,707.
Average Winslow Assessed Value
$159,686
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 Winslow, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08095 | $86,738 | $140,031 | $159,686 | $234,824 | $287,279 |
Source: Ownwell
Property Tax Bills Across Winslow, New Jersey
In Winslow, 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's office and reflects the market value of the property. Camden County's property tax rate is higher than the national median of 0.99%. For example, homeowners in Winslow can expect tax bills ranging from $4,128 at the 25th percentile to $6,922 at the 75th percentile, with the 90th percentile reaching up to $8,468. Several factors influence the assessed value, including the property's location, size, and condition. Higher assessed values result in higher tax bills, impacting homeowners' annual expenses. For instance, the median home price in Winslow is $159,686, which can lead to significant tax bills. This financial obligation can affect homeowners' budgets and influence decisions regarding property investments and home improvements. Understanding these factors is crucial for homeowners to anticipate their tax liabilities and plan accordingly.
Average Winslow Tax Bill
$4,707
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 Winslow, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08095 | $2,557 | $4,128 | $4,707 | $6,922 | $8,468 |
Source: Ownwell