Lawrenceville, Mercer County, New Jersey Property Taxes

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

Median LAWRENCEVILLE, NJ effective property tax rate: 2.98%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median LAWRENCEVILLE, NJ home value: $250,800
Median annual LAWRENCEVILLE, NJ tax bill: $7,476, $5,076 higher than the national median property tax bill of $2,400.

How are property taxes in Mercer calculated?

Property taxes in LAWRENCEVILLE, 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 LAWRENCEVILLE’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in LAWRENCEVILLE, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Lawrenceville, 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

$7,474

$6,936

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

By entering your property's estimated assessed value, our calculator applies Lawrenceville’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 Lawrenceville, Mercer County, New Jersey

Local government entities are responsible for setting property tax rates, which can differ significantly across a state. This variance is due to each county's annual process of estimating the budget needed to provide essential services and dividing it by the total value of all taxable properties within their jurisdiction. This calculation determines the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the fundamental annual process.

In Lawrenceville, Mercer County, New Jersey, the effective property tax rate is notably higher than the national median of 1.02%. This contrasts with the median property tax rates in other cities across New Jersey and the U.S. Such differences can impact homeowners significantly, making it essential to understand how these rates affect property tax bills. Comparing Lawrenceville's rate to other areas highlights the importance of being informed about local property tax dynamics. Understanding these differences can empower property owners to make informed decisions about property tax appeals and exemptions, potentially leading to substantial savings.

Property Tax Rates Across Lawrenceville, 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 Lawrenceville 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 Lawrenceville, 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 Lawrenceville, Mercer County, New Jersey

When examining property taxes in Lawrenceville, 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 Tax Assessor 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 Lawrenceville.

For example, the median home price in Lawrenceville is $250,800, with tax bills ranging significantly across the county. Zip code 08648 has the highest median home price at $250,800.

Property Tax Assessment Values Across Lawrenceville, Mercer County, New Jersey

Source: Ownwell

$42,000

$637,025

$1,232,050

Median Lawrenceville Market Value

$250,800

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 Lawrenceville, Mercer County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
08648	$192,760	$208,250	$250,800	$297,400	$340,020

Source: Ownwell

Property Tax Bills Across Lawrenceville, Mercer County, New Jersey

Property tax bills in Lawrenceville, located in Mercer County, NJ, are determined based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the local tax assessor. Mercer County's property tax rate is significantly higher than the national median rate of 1.02%, resulting in a median tax bill of $7,476, which is more than three times the national median of $2,400. Factors such as neighborhood improvements, local government budgets, and school funding needs can influence the local tax rate, impacting homeowners' tax bills. Homeowners in Lawrenceville may find their tax bills at the 25th percentile around $6,208, while those at the 75th percentile can see bills as high as $8,865. Ownwell helps homeowners by offering property tax appeal services, potentially lowering their assessed value and, consequently, their tax bills. By identifying discrepancies in property assessments, Ownwell can help homeowners achieve significant savings on their property taxes.

Property Tax Bills Across Lawrenceville, Mercer County, New Jersey

Source: Ownwell

$2,276

$19,576

$36,875

Median Lawrenceville Tax Bill

$7,476

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 Lawrenceville, Mercer County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
08648	$5,746	$6,208	$7,476	$8,865	$10,136

Source: Ownwell