Hamilton Square, Mercer County, New Jersey Property Taxes

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

Median Hamilton Square, 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 Hamilton Square, NJ home value: $104,400
Median annual Hamilton Square, NJ tax bill: $3,394, $994 higher than the national median property tax bill of $2,400.

How are property taxes in Mercer calculated?

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

Last Updated March 1, 2025

Hamilton Square, Mercer County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.25%

Estimate Property Tax Bill

$3,393

$3,149

Ownwell’s Hamilton Square Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hamilton Square with just two data points. By entering your property's estimated assessed value, our calculator applies Hamilton Square’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by Mercer 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 Hamilton Square, Mercer County, New Jersey

Local government entities set property tax rates, which can vary widely within a state. This variation arises because each county annually estimates its required budget to provide services, dividing that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.

Hamilton Square in Mercer County, NJ, has an effective property tax rate of 3.25%, which is significantly higher than both the New Jersey state median and the national median of 1.02%. This makes Hamilton Square one of the areas with the highest property tax rates in the state. The high property tax rate reflects the county's budgetary needs and the value of properties within its limits. While this rate may seem steep compared to the national median property tax bill of $2,400, it underscores the importance of understanding local tax rates and how they impact property owners. By staying informed and considering property tax appeal services, property owners can better manage their financial obligations.

Property Tax Rates Across Hamilton Square, 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 Hamilton Square Tax Rate

3.25%

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 Hamilton Square, Mercer County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
08690	3.25%	3.25%	3.25%	3.25%	3.25%

Source: Ownwell

Property Tax Assessment Values Across Hamilton Square, Mercer County, New Jersey

When examining property taxes in Hamilton Square, 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 Board of Taxation 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 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 Hamilton Square. For example, the median home price in Hamilton Square is $104,400, with tax bills ranging significantly across the county. 08690 has the highest median home price at $104,400.

Property Tax Assessment Values Across Hamilton Square, Mercer County, New Jersey

Source: Ownwell

$42,000

$637,025

$1,232,050

Median Hamilton Square Market Value

$104,400

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 Hamilton Square, Mercer County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
08690	$88,300	$88,300	$104,400	$107,900	$115,100

Source: Ownwell

Property Tax Bills Across Hamilton Square, Mercer County, New Jersey

In Hamilton Square, Mercer County, NJ, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, which is influenced by factors such as property size, location, and market conditions. Homeowners in Hamilton Square face a median tax bill of $3,394, significantly higher than the national median of $2,400, reflecting the area's higher property values and tax rates. The tax bill can vary within the community, with the 25th percentile at $2,871 and the 75th percentile at $3,508, indicating a range of tax burdens among residents.

For homeowners seeking to reduce their property tax bills, Ownwell offers valuable assistance. By providing expert property tax appeal services, Ownwell can help homeowners ensure their properties are accurately assessed, potentially leading to lower tax bills. With a deep understanding of local tax regulations and market trends, Ownwell's consultants work diligently to identify opportunities for savings, making property tax management more manageable for homeowners in Hamilton Square.

Property Tax Bills Across Hamilton Square, Mercer County, New Jersey

Source: Ownwell

$2,276

$19,576

$36,875

Median Hamilton Square Tax Bill

$3,394

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 Hamilton Square, Mercer County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
08690	$2,871	$2,871	$3,394	$3,508	$3,742

Source: Ownwell