National Park, New Jersey Property Taxes
The median property tax rate in National Park, NJ is 3.92%, 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 National Park at $162,945, the typical annual property tax bill reaches $6,385, far exceeding the national median of $2,690. Property taxes in National Park are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding National Park'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 National Park 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
National Park, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.92%
Estimate Property Tax Bill
$6,387
$5,927
Ownwell’s National Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in National Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in National Park 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 National Park, New Jersey
Property taxes in National Park, 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 National Park is 3.92%, significantly higher than the U.S. national median of 0.99%. Local government entities within National Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, National Park 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 National Park's effective property tax rate to other areas in New Jersey and the national median. For comparison, the 08063 zip code has both the highest and lowest median property tax rate of 3.92%. Understanding how these cities compare with National Park 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 National Park Tax Rate
3.92%
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 National Park, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08063 | 3.92% | 3.92% | 3.92% | 3.92% | 3.92% |
Source: Ownwell
Property Tax Assessment Values Across National Park, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in National Park, NJ. The market value represents 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 National Park, 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. The median home price in National Park is $162,945, with tax bills ranging from $5,519 at the 25th percentile to $8,731 at the 90th percentile. The zip code 08063 has both the highest and lowest median tax bill at $6,385. 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 the tax burden.
Property Tax Assessment Values Across National Park, New Jersey
Source: Ownwell
$118,344
$296,046
$473,747
Average National Park Assessed Value
$162,945
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 National Park, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08063 | $119,059 | $140,793 | $162,945 | $190,321 | $222,976 |
Source: Ownwell
Property Tax Bills Across National Park, New Jersey
Property tax bills in National Park, Gloucester County, NJ, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. Factors such as property size, location, and improvements can influence this market value. Homeowners in National Park face significant property tax bills, with the median home price at $162,945. The tax bill for the 25th percentile stands at $5,519, while the 75th percentile sees a tax bill of $7,457. For those at the 90th percentile, the tax bill can reach $8,731. Comparatively, the national median property tax rate is 0.99%, showcasing the relatively high property tax burden in this region. This considerable tax impact can affect homeowners by increasing the overall cost of owning property, influencing decisions on buying or selling homes, and potentially affecting the local real estate market.
Average National Park Tax Bill
$6,385
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 National Park, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08063 | $4,667 | $5,519 | $6,385 | $7,457 | $8,731 |
Source: Ownwell