Turnersville, New Jersey Property Taxes
The median property tax rate in Turnersville, NJ is 2.83%, 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, the typical annual property tax bill reaches $3,875, 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 the city, 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
2.83%
Estimate Property Tax Bill
$3,872
Ownwell’s Turnersville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Turnersville with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Turnersville to estimate your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available further down the page. Your property’s assessed value is determined by Gloucester County for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Turnersville, New Jersey
Property taxes in Turnersville, New Jersey, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Turnersville is 2.83%, 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 counties in New Jersey and the national median. For comparison, the 08012 zip code has the highest median property tax rate of 2.83%, while the same zip code also has the lowest median tax rate of 2.83%. Understanding how these areas compare with Turnersville 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 Turnersville Tax Rate
2.83%
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 Turnersville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08012 | 2.83% | 2.83% | 2.83% | 2.83% | 2.83% |
Source: Ownwell
Property Tax Assessment Values Across Turnersville, New Jersey
In Turnersville, 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 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. Being aware of these valuation processes in Turnersville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $3,875, found in zip code 08012.
Property Tax Assessment Values Across Turnersville, New Jersey
Source: Ownwell
$118,344
$296,046
$473,747
Average Turnersville Assessed Value
$136,837
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 Turnersville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08012 | $117,289 | $119,701 | $136,837 | $145,469 | $152,196 |
Source: Ownwell
Property Tax Bills Across Turnersville, New Jersey
In Turnersville, Gloucester 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 local tax assessors who evaluate the property's market value. This value is then multiplied by the tax rate to calculate the annual tax bill. The median home price in Turnersville is $136,837, with tax bills ranging significantly. For example, the 25th percentile tax bill is $3,390, while the 75th percentile tax bill is $4,120, and the 90th percentile tax bill reaches $4,313. These figures indicate that Turnersville's property tax rates can lead to higher tax bills compared to the national median property tax rate of 0.99%. Homeowners in Turnersville should consider these factors when budgeting for property taxes, as the assessed value and local tax rates directly impact their annual financial obligations. Understanding these elements helps homeowners anticipate their property tax bills and plan accordingly.
Average Turnersville Tax Bill
$3,875
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 Turnersville, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08012 | $3,322 | $3,390 | $3,875 | $4,120 | $4,313 |
Source: Ownwell