Burlngtn Twp, Burlington County, New Jersey Property Taxes

Local government entities determine property tax rates, leading to significant variations within a state. Each year, counties calculate their budgets for essential services and divide these by the total assessed value of taxable properties in their jurisdiction. This process establishes the property tax rate. Although votes and laws play a role in setting these rates and budgets, this calculation forms the core of the annual procedure.

In BURLNGTN TWP, located in Burlington County, NJ, the effective property tax rate is significantly higher than the national median of 1.02%. This comparison highlights the variability in property tax rates across different regions. While BURLNGTN TWP's rate may seem burdensome compared to the national median, it's crucial to consider the quality of services and infrastructure these taxes support. Property taxes are a vital source of revenue for local governments, funding schools, public safety, and infrastructure projects. Understanding how these rates compare to those in other cities within New Jersey and nationwide can provide valuable insights for property owners.

In BURLNGTN TWP, 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 tax rate to determine the annual property tax bill. In Burlington County, homeowners face a median property tax bill that significantly exceeds the national median of $2400, reflecting the area's higher property tax rate. For instance, the 25th percentile tax bill is $6258, while the 90th percentile reaches $6852, indicating substantial variation depending on property value and location within the county.

Factors influencing the tax bill include the property's assessed value, which can be impacted by market trends, home improvements, and neighborhood developments. High property taxes can place a financial burden on homeowners, making it crucial to ensure that assessments are accurate and fair. Ownwell assists homeowners by providing property tax appeal services, potentially lowering tax bills through assessment reviews and appeals. This service can result in significant savings, reducing the financial strain on homeowners in BURLNGTN TWP.