Monroeville, New Jersey Property Taxes
The median property tax rate in Monroeville, NJ is 2.90%, 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 Monroeville at $238,285, the typical annual property tax bill reaches $6,888, far exceeding the national median of $2,690. Property taxes in Monroeville are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Monroeville'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 Monroeville or another part of Gloucester County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Monroeville, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.9%
Estimate Property Tax Bill
$6,910
$6,413
Ownwell’s Monroeville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Monroeville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Monroeville 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 Monroeville, New Jersey
Property taxes in Monroeville, 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 Monroeville is 2.90%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Monroeville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Monroeville 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 Monroeville's effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08343 zip code has the highest median property tax rate of 2.90%, while the 08343 zip code also has the lowest median tax rate of 2.90%. Understanding how these cities compare with Monroeville provides valuable insights into the varying tax landscape across Gloucester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Monroeville Tax Rate
2.90%
Average Gloucester County Tax Rate
2.83%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Monroeville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08343 | 2.81% | 2.90% | 2.90% | 2.90% | 2.90% |
Source: Ownwell
Property Tax Assessment Values Across Monroeville, New Jersey
In Monroeville, 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 Gloucester 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 Monroeville, 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. For instance, the median home price in Monroeville is $238,285, with tax bills ranging from $5,324 at the 25th percentile to $12,447 at the 90th percentile. The highest and lowest median tax bills, both at $6,888, are found in the 08343 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Property Tax Assessment Values Across Monroeville, New Jersey
Source: Ownwell
$118,344
$296,046
$473,747
Average Monroeville Assessed Value
$238,285
Average Gloucester County Assessed Value
$246,529
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Monroeville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08343 | $77,756 | $185,430 | $238,285 | $331,166 | $429,664 |
Source: Ownwell
Property Tax Bills Across Monroeville, New Jersey
Property tax bills in Monroeville, located in Gloucester County, NJ, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by local assessors who evaluate the market value of the property. This value is then multiplied by the tax rate set by the local government to determine the annual tax bill. For example, with a median home price of $238,285 in Monroeville, homeowners can expect varying tax bills. The 25th percentile tax bill is around $5,324, while the 75th percentile reaches approximately $9,530, and the 90th percentile can be as high as $12,447. The median tax bill in Monroeville is $6,888, which is significantly higher than the national median property tax rate of 0.99%. These taxes are crucial for funding local services such as schools, infrastructure, and public safety, directly impacting the quality of life for homeowners in the area.
Average Monroeville Tax Bill
$6,888
Average Gloucester County Tax Bill
$7,106
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Monroeville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08343 | $2,434 | $5,324 | $6,888 | $9,530 | $12,447 |
Source: Ownwell