Woodbury Heights, New Jersey Property Taxes
The median property tax rate in Woodbury Heights, NJ is 3.78%, 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 Woodbury Heights, the typical annual property tax bill reaches $8,348, far exceeding the national median of $2,690. Property taxes in Woodbury Heights 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 Woodbury Heights' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Woodbury Heights 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
Woodbury Heights, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.78%
Estimate Property Tax Bill
$8,365
$7,763
Ownwell’s Woodbury Heights Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodbury Heights with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodbury Heights 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 Woodbury Heights, New Jersey
Property taxes in Woodbury Heights, New Jersey, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodbury Heights is 3.78%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Woodbury Heights set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodbury Heights 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 Woodbury Heights' effective property tax rate to other counties in New Jersey and the national median. For comparison, the 08097 zip code has the highest median property tax rate of 3.78%, while the same zip code also has the lowest median tax rate of 3.78%. Understanding how these cities compare with Woodbury Heights 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 Woodbury Heights Tax Rate
3.78%
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 Woodbury Heights, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08097 | 3.78% | 3.78% | 3.78% | 3.78% | 3.78% |
Source: Ownwell
Property Tax Assessment Values Across Woodbury Heights, New Jersey
In Woodbury Heights, 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 Tax 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. In Woodbury Heights, 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 Woodbury Heights helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Woodbury Heights is $221,300, with the highest and lowest median tax bills both recorded at $8,348 in the 08097 zip code.
Property Tax Assessment Values Across Woodbury Heights, New Jersey
Source: Ownwell
$118,344
$296,046
$473,747
Average Woodbury Heights Assessed Value
$221,300
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 Woodbury Heights, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08097 | $155,697 | $192,034 | $221,300 | $247,265 | $283,502 |
Source: Ownwell
Property Tax Bills Across Woodbury Heights, New Jersey
In Woodbury Heights, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county and is a percentage of the property's market value. Factors such as location, property size, and improvements can influence this assessment. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. Homeowners in Woodbury Heights face property tax bills that vary widely. For instance, the 25th percentile tax bill is $7,198, while the 75th percentile reaches $9,335. Those in the 90th percentile can expect to pay around $10,703. These figures highlight the significant impact property taxes can have on household budgets. Compared to the national median property tax rate of 0.99%, the tax burden in Woodbury Heights is notably higher, reflecting the local economic conditions and funding requirements for public services. This higher tax rate can affect homeowners' financial planning and overall cost of living.
Average Woodbury Heights Tax Bill
$8,348
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 Woodbury Heights, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08097 | $5,393 | $7,198 | $8,348 | $9,335 | $10,703 |
Source: Ownwell