Mercer County Property Taxes
The median property tax rate in Mercer County is 3.25%, which is 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 Mercer County at $216,500, the typical annual property tax bill reaches $7,200, far exceeding the national median of $2,690. Property taxes in Mercer County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Mercer County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Trenton or another part of Mercer County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mercer County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.25%
Estimate Property Tax Bill
$7,036
$6,529
Ownwell’s Mercer County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Mercer County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Mercer County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Mercer County, New Jersey
Property taxes in Mercer County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Mercer County is 3.25%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Mercer County set these rates annually, and they can vary significantly between different areas within the county. Each year, Mercer County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Mercer County's effective property tax rate with other regions and the national median. For comparison, the city of Hightstown has one of the higher property tax rates in the region at 4.69%, while the city of Princeton boasts one of the lowest at 2.43%. Analyzing how Mercer County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Mercer County Tax Rate
3.25%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mercer County, New Jersey
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Allentown | 3.25% | 3.25% | 3.25% | 3.25% | 3.25% |
| Cranbury | 3.31% | 3.31% | 3.31% | 3.31% | 3.31% |
| East Windsor | 3.31% | 3.31% | 3.31% | 3.43% | 3.43% |
| Ewing | 3.60% | 3.60% | 3.60% | 3.60% | 3.60% |
| Hamilton | 3.25% | 3.25% | 3.25% | 3.25% | 3.25% |
| Hamilton Square | 3.25% | 3.25% | 3.25% | 3.25% | 3.25% |
| Hightstown | 3.00% | 3.43% | 4.69% | 4.69% | 4.69% |
| Hopewell | 2.99% | 2.99% | 2.99% | 3.20% | 3.20% |
| Joint Base Mdl | 3.02% | 3.06% | 3.12% | 3.19% | 3.23% |
| Lambertville | 2.99% | 2.99% | 2.99% | 2.99% | 2.99% |
| Lawrence Township | 2.98% | 2.98% | 2.98% | 2.98% | 2.98% |
| Lawrenceville | 2.98% | 2.98% | 2.98% | 2.98% | 2.98% |
| Millstone Township | 3.20% | 3.20% | 3.20% | 3.20% | 3.20% |
| Pennington | 2.83% | 2.99% | 2.99% | 2.99% | 2.99% |
| Princeton | 2.43% | 2.43% | 2.43% | 2.88% | 2.88% |
| Princeton Jct | 2.88% | 2.88% | 2.88% | 2.88% | 2.88% |
| Princeton Junction | 2.88% | 2.88% | 2.88% | 2.88% | 2.88% |
| Robbinsville | 3.00% | 3.00% | 3.00% | 3.00% | 3.25% |
| Skillman | 2.99% | 2.99% | 2.99% | 2.99% | 2.99% |
| Titusville | 2.99% | 2.99% | 2.99% | 2.99% | 2.99% |
| Trenton | 3.25% | 3.25% | 3.25% | 5.46% | 5.46% |
| West Windsor | 2.88% | 2.88% | 2.88% | 2.88% | 2.88% |
| Windsor | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% |
Source: Ownwell
Property Tax Assessment Values Across Mercer County, New Jersey
In Mercer County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Mercer County Appraisal District. The assessed value, however, 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 in Mercer County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Mercer County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Notably, Skillman has the highest median tax bill at $36,875, while Hamilton Square has the lowest at $3,394.
Property Tax Assessment Values Across Mercer County, New Jersey
Source: Ownwell
$42,000
$637,025
$1,232,050
Average Mercer County Assessed Value
$216,500
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mercer County, New Jersey
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Allentown | $255,660 | $271,900 | $293,900 | $323,600 | $401,020 |
| Cranbury | $296,580 | $312,850 | $355,300 | $365,500 | $378,060 |
| East Windsor | $102,000 | $178,000 | $235,300 | $340,850 | $420,000 |
| Ewing | $125,550 | $156,300 | $192,800 | $239,725 | $298,400 |
| Hamilton | $132,960 | $168,100 | $195,200 | $231,700 | $269,360 |
| Hamilton Square | $88,300 | $88,300 | $104,400 | $107,900 | $115,100 |
| Hightstown | $150,800 | $177,625 | $225,150 | $288,700 | $415,610 |
| Hopewell | $295,760 | $344,000 | $417,100 | $538,550 | $682,640 |
| Joint Base Mdl | $172,290 | $195,975 | $235,450 | $274,925 | $298,610 |
| Lambertville | $316,740 | $388,900 | $487,300 | $655,000 | $963,660 |
| Lawrence Township | $142,130 | $174,200 | $235,800 | $329,375 | $442,300 |
| Lawrenceville | $192,760 | $208,250 | $250,800 | $297,400 | $340,020 |
| Millstone Township | $527,600 | $527,600 | $527,600 | $527,600 | $527,600 |
| Pennington | $271,400 | $319,100 | $415,300 | $564,800 | $719,020 |
| Princeton | $257,500 | $456,150 | $646,500 | $890,700 | $1,296,100 |
| Princeton Jct | $386,900 | $386,900 | $386,900 | $386,900 | $386,900 |
| Princeton Junction | $306,400 | $416,975 | $572,600 | $682,975 | $797,310 |
| Robbinsville | $160,000 | $230,000 | $344,950 | $484,700 | $572,700 |
| Skillman | $707,190 | $1,050,000 | $1,232,050 | $1,316,800 | $1,386,970 |
| Titusville | $251,300 | $311,650 | $400,000 | $524,550 | $738,700 |
| Trenton | $40,800 | $58,700 | $140,800 | $217,900 | $280,600 |
| West Windsor | $631,850 | $672,400 | $699,550 | $723,975 | $781,500 |
| Windsor | $183,950 | $208,975 | $257,850 | $317,425 | $407,000 |
Source: Ownwell
Property Tax Bills Across Mercer County, New Jersey
In Mercer 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 the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the county's tax rate to calculate the annual tax bill. Mercer County's property tax rates are significantly higher than the national median of 0.99%, leading to substantial tax bills for homeowners. Several factors influence the final tax bill, including the home's location, size, and condition. For example, the median tax bill in Mercer County ranges from $4,633 at the 25th percentile to $16,907 at the 90th percentile, indicating a wide variation based on property characteristics. In Skillman, homeowners face the highest median tax bill at $36,875, while Hamilton Square residents see the lowest at $3,394. These high property taxes can significantly impact homeowners, affecting their monthly budgets and overall affordability of owning a home in the county.
Average Mercer County Tax Bill
$7,200
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Mercer County, New Jersey
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Allentown | $8,312 | $8,839 | $9,555 | $10,520 | $13,037 |
| Cranbury | $9,808 | $10,346 | $11,750 | $12,087 | $12,434 |
| East Windsor | $3,376 | $5,890 | $8,008 | $11,631 | $14,412 |
| Ewing | $4,550 | $5,626 | $6,939 | $8,618 | $10,666 |
| Hamilton | $4,323 | $5,464 | $6,346 | $7,516 | $8,757 |
| Hamilton Square | $2,871 | $2,871 | $3,394 | $3,508 | $3,742 |
| Hightstown | $6,789 | $8,033 | $10,018 | $12,652 | $14,588 |
| Hopewell | $9,028 | $10,733 | $13,042 | $16,579 | $20,590 |
| Joint Base Mdl | $5,522 | $6,172 | $7,257 | $8,341 | $8,992 |
| Lambertville | $9,480 | $11,640 | $14,585 | $19,604 | $28,842 |
| Lawrence Township | $4,269 | $5,193 | $7,029 | $9,821 | $13,173 |
| Lawrenceville | $5,746 | $6,208 | $7,476 | $8,865 | $10,136 |
| Millstone Township | $16,878 | $16,878 | $16,878 | $16,878 | $16,878 |
| Pennington | $8,123 | $9,461 | $12,325 | $16,470 | $21,080 |
| Princeton | $7,416 | $11,872 | $16,541 | $22,584 | $31,616 |
| Princeton Jct | $11,143 | $11,143 | $11,143 | $11,143 | $11,143 |
| Princeton Junction | $8,795 | $12,004 | $16,455 | $19,603 | $22,922 |
| Robbinsville | $4,797 | $6,967 | $10,556 | $14,540 | $17,170 |
| Skillman | $21,166 | $31,426 | $36,875 | $39,552 | $41,512 |
| Titusville | $7,521 | $9,328 | $11,972 | $15,715 | $22,109 |
| Trenton | $2,161 | $3,069 | $5,078 | $7,276 | $9,346 |
| West Windsor | $18,197 | $19,363 | $20,072 | $20,612 | $22,507 |
| Windsor | $5,515 | $6,265 | $7,730 | $9,516 | $12,202 |
Source: Ownwell