Gibbsboro, Camden County, New Jersey Property Taxes
Median Gibbsboro, NJ effective property tax rate: 3.53%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median Gibbsboro, NJ home value: $238,750
Median annual Gibbsboro, NJ tax bill: $8,429, $6,029 higher than the national median property tax bill of $2,400.
How are property taxes in Camden calculated?
Property taxes in Gibbsboro, 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 Gibbsboro’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Gibbsboro, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Gibbsboro, Camden County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.53%
Estimate Property Tax Bill
$8,428
$7,821
Property Tax Rates Across Gibbsboro, Camden County, New Jersey
Local government entities determine property tax rates, which can significantly differ within a state. This variance arises because each county annually estimates its budgetary needs for public services and divides this by the total value of all taxable properties within its jurisdiction, resulting in the property tax rate. Though the process involves votes and legislation, this is the essence of how tax rates are established each year.
In Gibbsboro, Camden County, NJ, the effective property tax rate is notably higher compared to other cities within the state and far exceeds the national median. With a median property tax rate of 3.53%, Gibbsboro stands out, especially when juxtaposed with the national median property tax rate of 1.02%. This higher rate reflects the local fiscal requirements and property values, impacting homeowners significantly. For those residing in Gibbsboro, understanding these rates is crucial, as it directly affects annual property tax bills. By comparing these rates, homeowners can better comprehend how their property taxes measure up against state and national averages, highlighting the importance of exploring potential appeals or exemptions to manage their financial obligations effectively.
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 Gibbsboro Tax Rate
3.53%
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 Camden County Tax Rate
3.17%
Median Effective New Jersey Tax Rate
2.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Gibbsboro, Camden County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08026 | 3.53% | 3.53% | 3.53% | 3.53% | 3.53% |
Source: Ownwell
Property Tax Assessment Values Across Gibbsboro, Camden County, New Jersey
When examining property taxes in Gibbsboro, 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 Camden 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 Camden 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 Gibbsboro.
For example, the median home price in Gibbsboro is $238,750, with tax bills ranging significantly across the county. Zip code 08026 has the highest median home price at $238,750.
Property Tax Assessment Values Across Gibbsboro, Camden County, New Jersey
Source: Ownwell
$54,570
$257,531
$460,492
Median Gibbsboro Market Value
$238,750
Median Camden County Market Value
$216,803
Median New Jersey Market Value
$282,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across Gibbsboro, Camden County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08026 | $193,703 | $217,156 | $238,750 | $278,200 | $412,932 |
Source: Ownwell
Property Tax Bills Across Gibbsboro, Camden County, New Jersey
Median Gibbsboro Tax Bill
$8,429
Median Camden County Tax Bill
$7,089
Median New Jersey Tax Bill
$8,227
Median United States Tax Bill
$2,400
Property Tax Bills Across Gibbsboro, Camden County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08026 | $6,876 | $7,666 | $8,429 | $9,821 | $14,578 |
Source: Ownwell