Lambertville, Mercer County, New Jersey Property Taxes
Median Lambertville, NJ effective property tax rate: 2.99%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Lambertville, NJ home value: $487,300
Median annual Lambertville, NJ tax bill: $14,585, $12,185 higher than the national median property tax bill of $2,400.
How are property taxes in Mercer calculated?
Property taxes in Lambertville, 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 Lambertville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lambertville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lambertville, Mercer County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.99%
Estimate Property Tax Bill
$14,570
$13,521
Property Tax Rates Across Lambertville, Mercer County, New Jersey
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 Lambertville Tax Rate
2.99%
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 Lambertville, Mercer County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08530 | 2.99% | 2.99% | 2.99% | 2.99% | 2.99% |
Source: Ownwell
Property Tax Assessment Values Across Lambertville, Mercer County, New Jersey
When examining property taxes in Lambertville, 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 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 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 Lambertville. For example, the median home price in Lambertville is $487,300, with tax bills ranging significantly across the county. 08530 has the highest median home price at $487,300.
Property Tax Assessment Values Across Lambertville, Mercer County, New Jersey
Source: Ownwell
$42,000
$637,025
$1,232,050
Median Lambertville Market Value
$487,300
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 Lambertville, Mercer County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08530 | $316,740 | $388,900 | $487,300 | $655,000 | $963,660 |
Source: Ownwell
Property Tax Bills Across Lambertville, Mercer County, New Jersey
In Lambertville, NJ, property tax bills are determined based on the assessed value of a home, which is influenced by the market value. The median home price in the area is $487,300. Homeowners in Lambertville face a median tax bill of $14,585, which is significantly higher than the national median property tax bill of $2,400. This disparity highlights the importance of understanding property tax assessments and seeking potential savings. The tax bill can vary widely, with the 25th percentile at $11,640 and the 75th percentile reaching $19,604. Factors such as local government budget requirements and public service funding needs contribute to these calculations and can heavily impact homeowners.
Ownwell offers valuable assistance to homeowners in Lambertville by providing expert property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies, Ownwell helps homeowners potentially reduce their tax bills, ensuring they are not overpaying. This service can be crucial in a high-tax area like Lambertville, where even a small reduction can lead to substantial savings.
Property Tax Bills Across Lambertville, Mercer County, New Jersey
Source: Ownwell
$2,276
$19,576
$36,875
Median Lambertville Tax Bill
$14,585
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 Lambertville, Mercer County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08530 | $9,480 | $11,640 | $14,585 | $19,604 | $28,842 |
Source: Ownwell