Allentown, Mercer County, New Jersey Property Taxes
Median Allentown, NJ effective property tax rate: 3.25%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median Allentown, NJ home value: $293,900
Median annual Allentown, NJ tax bill: $9,555, $7,155 higher than the national median property tax bill of $2,400.
How are property taxes in Mercer calculated?
Property taxes in Allentown, 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 Allentown’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Allentown, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Allentown, Mercer County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.25%
Estimate Property Tax Bill
$9,552
$8,864
Property Tax Rates Across Allentown, Mercer County, New Jersey
Local government entities are responsible for setting property tax rates, which can differ significantly within a state. This variation occurs because each county annually estimates the budget necessary to provide essential services and divides this amount by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although the process involves votes and laws, this is the core of how rates are determined each year.
In Allentown, Mercer County, NJ, the effective property tax rate stands at 3.25%, significantly higher than the national median of 1.02%. This rate is one of the highest in the state, which can be attributed to the local government’s budgeting needs and the assessed property values. Comparatively, the national median property tax bill is $2,400, highlighting the substantial difference in tax burdens.
Understanding these differences is crucial for property owners, as they directly impact annual tax obligations. By grasping how local rates are set and how they compare to state and national averages, property owners can better anticipate and plan for their financial responsibilities.
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 Allentown Tax Rate
3.25%
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 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 Allentown, Mercer County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08501 | 3.25% | 3.25% | 3.25% | 3.25% | 3.25% |
Source: Ownwell
Property Tax Assessment Values Across Allentown, Mercer County, New Jersey
When examining property taxes in Allentown, 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 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 Allentown. For example, the median home price in Allentown is $293,900, with tax bills ranging significantly across the county. The zip code 08501 has the highest median home price at $293,900.
Property Tax Assessment Values Across Allentown, Mercer County, New Jersey
Source: Ownwell
$42,000
$637,025
$1,232,050
Median Allentown Market Value
$293,900
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 Allentown, Mercer County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08501 | $255,660 | $271,900 | $293,900 | $323,600 | $401,020 |
Source: Ownwell
Property Tax Bills Across Allentown, Mercer County, New Jersey
Median Allentown Tax Bill
$9,555
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 Allentown, Mercer County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08501 | $8,312 | $8,839 | $9,555 | $10,520 | $13,037 |
Source: Ownwell
