Hopewell, Hunterdon County, New Jersey Property Taxes

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

Median Hopewell, NJ effective property tax rate: 2.59%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median Hopewell, NJ home value: $354,100
Median annual Hopewell, NJ tax bill: $9,062, $6,662 higher than the national median property tax bill of $2,400.

How are property taxes in Hunterdon calculated?

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

Last Updated March 1, 2025

Hopewell, Hunterdon County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.59%

Estimate Property Tax Bill

$9,171

$8,511

Ownwell’s Hopewell Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hopewell with just two data points. By entering your property's estimated assessed value, our calculator applies Hopewell’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 Hunterdon County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Hopewell, Hunterdon County, New Jersey

Local government entities set tax rates, which can vary widely within a state. 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, this is the annual process in a nutshell.

Hopewell, located in Hunterdon County, New Jersey, has an effective property tax rate of 2.59%. This is significantly higher than the national median property tax rate of 1.02%. Compared to other cities in New Jersey, Hopewell's rate is notably high, reflecting the state's overall tendency toward elevated property tax rates. The median property tax bill in the U.S. is $2,400, whereas New Jersey's rates often lead to higher bills due to its high property values and tax rates. Understanding these differences can help property owners in Hopewell make informed decisions about property tax appeals and exemptions, potentially leading to significant savings.

Property Tax Rates Across Hopewell, Hunterdon County, New Jersey

Source: Ownwell

2.27%

3.26%

4.25%

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 Hopewell Tax Rate

2.59%

Median Effective Hunterdon County Tax Rate

2.66%

Median Effective New Jersey Tax Rate

2.82%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Hopewell, Hunterdon County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
08525	2.59%	2.59%	2.59%	2.59%	2.59%

Source: Ownwell

Property Tax Assessment Values Across Hopewell, Hunterdon County, New Jersey

When examining property taxes in Hopewell, 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 Hunterdon 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. Assessment notices: In Hunterdon County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Hopewell. For example, the median home price in Hopewell is $354,100, with tax bills ranging significantly across the county. 08525 has the highest median home price at $354,100.

Property Tax Assessment Values Across Hopewell, Hunterdon County, New Jersey

Source: Ownwell

$178,200

$369,975

$561,750

Median Hopewell Market Value

$354,100

Median Hunterdon County Market Value

$364,050

Median New Jersey Market Value

$282,900

Median United States Market Value

$235,294

Property Tax Assessment Values Across Hopewell, Hunterdon County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
08525	$239,970	$291,575	$354,100	$446,950	$533,390

Source: Ownwell

Property Tax Bills Across Hopewell, Hunterdon County, New Jersey

In Hopewell, NJ, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the market value determined by the local assessor's office. Factors such as property size, location, and improvements can influence this value. Homeowners in Hopewell face significant tax bills, with the 25th percentile at $7,443 and the 75th percentile at $11,425, both well above the national median property tax bill of $2,400. The highest median tax bill in the area is $9,062, reflecting the burden on homeowners compared to the national median property tax rate of 1.02%.

Ownwell assists homeowners in reducing their property tax bills by offering expert appeal and exemption services. By analyzing property assessments and identifying discrepancies or opportunities for exemptions, Ownwell can help ensure that homeowners are not overpaying. This service can be particularly beneficial in areas like Hopewell, where property taxes are significantly higher than the national average, providing potential savings and financial relief for homeowners.

Property Tax Bills Across Hopewell, Hunterdon County, New Jersey

Source: Ownwell

$4,512

$8,641

$12,769

Median Hopewell Tax Bill

$9,062

Median Hunterdon County Tax Bill

$10,015

Median New Jersey Tax Bill

$8,227

Median United States Tax Bill

$2,400

Property Tax Bills Across Hopewell, Hunterdon County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
08525	$6,222	$7,443	$9,062	$11,425	$13,717

Source: Ownwell