Lawrence Township, Mercer County, New Jersey Property Taxes

Name: Property Tax Bills Across Lawrence Township, Mercer County, New Jersey
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Lawrence Township, NJ effective property tax rate: 2.98%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%. Median Lawrence Township, NJ home value: $235,800. Median annual Lawrence Township, NJ tax bill: $7,029, $4,629 higher than the national median property tax bill of $2,400.

How are property taxes in Mercer County calculated?

Property taxes in Lawrence Township, NJ are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption. Understanding Lawrence Township’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lawrence Township, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Lawrence Township, Mercer County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.98%

Estimate Property Tax Bill

$7,027

$6,521

Ownwell’s Lawrence Township Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lawrence Township with just two data points.

By entering your property's estimated assessed value, our calculator applies Lawrence Township’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Mercer County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lawrence Township, Mercer County, New Jersey

Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Lawrence Township’s effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S.

Lawrence Township, situated in Mercer County, showcases a property tax rate that significantly surpasses the national median. With a median property tax rate of 2.98%, it stands as one of the highest in the state, highlighting the unique financial landscape of New Jersey. This rate is nearly three times the national median of 1.02%, reflecting the state's reliance on property taxes to fund local services. For residents, this means a considerable portion of their property’s assessed value goes towards taxes, emphasizing the importance of exploring potential appeals and exemptions to mitigate costs.

Property Tax Rates Across Lawrence Township, Mercer County, New Jersey

Source: Ownwell

2.43%

3.94%

5.46%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Lawrence Township Tax Rate

2.98%

Median Effective Mercer County Tax Rate

3.25%

Median Effective New Jersey Tax Rate

2.82%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lawrence Township, Mercer County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
08648	2.98%	2.98%	2.98%	2.98%	2.98%

Source: Ownwell

Property Tax Assessment Values Across Lawrence Township, Mercer County, New Jersey

When examining property taxes in Lawrence Township, NJ, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Mercer County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Mercer County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Lawrence Township. For example, the median home price in Lawrence Township is $235,800, with tax bills ranging significantly across the county. Zip code 08648 has the highest median home price at $235,800.

Property Tax Assessment Values Across Lawrence Township, Mercer County, New Jersey

Source: Ownwell

$42,000

$637,025

$1,232,050

Median Lawrence Township Market Value

$235,800

Median Mercer County Market Value

$216,500

Median New Jersey Market Value

$282,900

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lawrence Township, Mercer County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
08648	$142,130	$174,200	$235,800	$329,375	$442,300

Source: Ownwell

Property Tax Bills Across Lawrence Township, Mercer County, New Jersey

In Lawrence Township, NJ, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. With a median home price of $235,800, homeowners in Lawrence Township face a median property tax bill of $7,029, significantly higher than the national median of $2,400. Factors such as property size, location, and improvements can influence the assessed value and, consequently, the tax bill. For homeowners, this can mean a substantial financial burden, particularly when tax bills fall within the higher percentiles, such as $13,173 at the 90th percentile. Ownwell assists homeowners by providing property tax appeal and exemption services, potentially reducing their tax burden. By leveraging expert knowledge and experience, Ownwell helps homeowners ensure their property is fairly assessed, leading to potential savings on their property tax bills.

Property Tax Bills Across Lawrence Township, Mercer County, New Jersey

Source: Ownwell

$2,276

$19,576

$36,875

Median Lawrence Township Tax Bill

$7,029

Median Mercer County Tax Bill

$7,200

Median New Jersey Tax Bill

$8,227

Median United States Tax Bill

$2,400

Property Tax Bills Across Lawrence Township, Mercer County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
08648	$4,269	$5,193	$7,029	$9,821	$13,173

Source: Ownwell