Paulsboro, New Jersey Property Taxes
The median property tax rate in Paulsboro, NJ is 3.86%, significantly higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With a median home value of $118,344 in Paulsboro, the typical annual property tax bill reaches $4,559, far exceeding the national median of $2,690. Property taxes in Paulsboro are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Paulsboro'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 Paulsboro 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
Paulsboro, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.86%
Estimate Property Tax Bill
$4,568
Ownwell’s Paulsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paulsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paulsboro 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 Paulsboro, New Jersey
Property taxes in Paulsboro, 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 Paulsboro is 3.86%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Paulsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paulsboro 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 Paulsboro's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 08066 has the highest median property tax rate of 3.86%, while the same zip code also has the lowest median tax rate of 3.86%. Understanding how these cities compare with Paulsboro 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 Paulsboro Tax Rate
3.86%
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 Paulsboro, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08066 | 3.86% | 3.86% | 3.86% | 3.86% | 3.86% |
Source: Ownwell
Property Tax Assessment Values Across Paulsboro, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Paulsboro, 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 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 Paulsboro, 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 Paulsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Paulsboro, the highest and lowest median tax bills are both $4,559, found in the 08066 zip code.
Average Paulsboro Assessed Value
$118,344
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 Paulsboro, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08066 | $78,098 | $96,911 | $118,344 | $141,374 | $162,695 |
Source: Ownwell
Property Tax Bills Across Paulsboro, New Jersey
Property tax bills in Paulsboro, Gloucester County, NJ, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and is intended to reflect the market value of the property. Homeowners in Paulsboro face property tax bills that range significantly, with the 25th percentile at $3,737 and the 75th percentile reaching $5,449. The 90th percentile tax bill can go as high as $6,273. These tax bills are considerably higher than the national median property tax rate of 0.99%. For instance, the median home price in Paulsboro is $118,344, and the highest median tax bill in the area is $4,559, all within the 08066 zip code. This means homeowners in Paulsboro pay a substantial amount in property taxes, which can impact their overall housing affordability. The local tax rate, coupled with property assessments, plays a crucial role in determining the final tax bill, affecting the financial burden on homeowners.
Average Paulsboro Tax Bill
$4,559
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 Paulsboro, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08066 | $3,011 | $3,737 | $4,559 | $5,449 | $6,273 |
Source: Ownwell