West Deptford, New Jersey Property Taxes
The median property tax rate in West Deptford, NJ is 2.73%, 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 West Deptford, the typical annual property tax bill reaches $6,408, exceeding the national median of $2,690. Property taxes in West Deptford 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 West Deptford'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 West Deptford 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
West Deptford, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.73%
Estimate Property Tax Bill
$6,391
$5,931
Ownwell’s West Deptford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West Deptford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Deptford 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 West Deptford, New Jersey
Property taxes in West Deptford, New Jersey, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Deptford is 2.73%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within West Deptford set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Deptford 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 West Deptford's effective property tax rate to other areas in Gloucester County and the national median. For comparison, the 08063 zip code has the highest median property tax rate of 2.73%, while the 08096 zip code has the lowest median tax rate of 2.73%. Understanding how these areas compare with West Deptford 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 West Deptford Tax Rate
2.73%
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 West Deptford, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08051 | 2.73% | 2.73% | 2.73% | 2.73% | 2.73% |
| 08063 | 2.73% | 2.73% | 2.73% | 3.92% | 3.92% |
| 08066 | 2.73% | 2.73% | 2.73% | 2.73% | 2.73% |
| 08086 | 2.73% | 2.73% | 2.73% | 2.73% | 2.73% |
| 08093 | 2.73% | 2.73% | 2.73% | 2.73% | 2.73% |
| 08096 | 2.73% | 2.73% | 2.73% | 2.73% | 2.73% |
Source: Ownwell
Property Tax Assessment Values Across West Deptford, New Jersey
In West Deptford, 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 Assessor 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. 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 West Deptford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $7,828 in the 08066 zip code, while the lowest is $5,036 in the 08051 zip code.
Property Tax Assessment Values Across West Deptford, New Jersey
Source: Ownwell
$118,344
$296,046
$473,747
Average West Deptford Assessed Value
$234,107
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 West Deptford, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08051 | $131,685 | $137,361 | $184,221 | $331,388 | $378,658 |
| 08063 | $120,150 | $156,914 | $186,806 | $216,448 | $238,673 |
| 08066 | $99,394 | $112,197 | $286,074 | $356,395 | $384,410 |
| 08086 | $171,543 | $193,365 | $243,631 | $313,320 | $412,802 |
| 08093 | $152,977 | $184,410 | $228,053 | $264,632 | $297,629 |
| 08096 | $176,513 | $203,330 | $237,386 | $283,426 | $365,565 |
Source: Ownwell
Property Tax Bills Across West Deptford, New Jersey
Property tax bills in West Deptford, Gloucester County, NJ, are calculated based on the assessed value of a property and the local tax rate. The median home price in this area is $234,107. Local authorities assess the value of properties to determine their taxable value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in West Deptford, property tax bills can vary significantly. The 25th percentile tax bill is $5,177, while the 75th percentile tax bill is $8,152. At the higher end, the 90th percentile tax bill reaches $10,517. This variation is influenced by factors such as property location, home size, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, West Deptford's tax rates can result in higher tax bills, impacting homeowners by adding a substantial cost to their annual expenses. The highest median tax bill in the area is $7,828 in the 08066 zip code, while the lowest is $5,036 in the 08051 zip code.
Average West Deptford Tax Bill
$6,408
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 West Deptford, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08051 | $3,599 | $3,754 | $5,036 | $9,059 | $10,342 |
| 08063 | $3,909 | $4,681 | $5,591 | $6,390 | $7,237 |
| 08066 | $2,716 | $3,075 | $7,828 | $9,749 | $10,506 |
| 08086 | $4,688 | $5,281 | $6,656 | $8,552 | $11,277 |
| 08093 | $4,176 | $5,040 | $6,232 | $7,232 | $8,134 |
| 08096 | $4,836 | $5,572 | $6,501 | $7,754 | $9,996 |
Source: Ownwell