Alloway, Salem County, New Jersey Property Taxes
- Median Alloway, NJ effective property tax rate: 3.18%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
- Median Alloway, NJ home value: $152,900
- Median annual Alloway, NJ tax bill: $4,772, $2,372 higher than the national median property tax bill of $2,400.
How are property taxes in Salem calculated?
Property taxes in Alloway, 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 Alloway’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Alloway, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Alloway, Salem County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.18%
Estimate Property Tax Bill
$4,862
$4,512
Property Tax Rates Across Alloway, Salem 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 Alloway Tax Rate
3.18%
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 Salem County Tax Rate
3.71%
Median Effective New Jersey Tax Rate
2.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Alloway, Salem County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08001 | 2.89% | 3.12% | 3.18% | 3.18% | 3.18% |
Source: Ownwell
Property Tax Assessment Values Across Alloway, Salem County, New Jersey
When examining property taxes in Alloway, 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 Salem 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 Salem 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 Alloway.
For example, the median home price in Alloway is $152,900, with tax bills ranging significantly across the county. Zip code 08001 has the highest median home price at $152,900.
Property Tax Assessment Values Across Alloway, Salem County, New Jersey
Source: Ownwell
$89,450
$178,125
$266,800
Median Alloway Market Value
$152,900
Median Salem County Market Value
$154,700
Median New Jersey Market Value
$282,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across Alloway, Salem County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08001 | $97,870 | $121,100 | $152,900 | $192,550 | $246,660 |
Source: Ownwell
Property Tax Bills Across Alloway, Salem County, New Jersey
Property tax bills in Alloway, Salem County, NJ, are calculated based on the assessed value of a property and the local tax rate. The median home price in Alloway is $152,900, and the median property tax bill is $4,772, significantly higher than the national median of $2,400. This higher tax burden is due to a combination of local policies and the assessed value of homes. Homeowners in Alloway face tax bills ranging from $3,773 at the 25th percentile to $7,708 at the 90th percentile, reflecting a wide variation that depends on the property's assessed value and specific tax rate.
Factors influencing the property tax bill include the property's condition, location, and any improvements made. These factors can lead to higher assessed values, thus increasing the tax burden on homeowners.
Ownwell can assist homeowners in Alloway by reviewing their property assessments and identifying opportunities for appeals. By leveraging expert knowledge and experience, Ownwell helps ensure that homeowners are not overpaying on their property taxes, potentially saving them a significant amount on their annual tax bills.
Median Alloway Tax Bill
$4,772
Median Salem County Tax Bill
$5,715
Median New Jersey Tax Bill
$8,227
Median United States Tax Bill
$2,400
Property Tax Bills Across Alloway, Salem County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08001 | $2,880 | $3,773 | $4,772 | $5,989 | $7,708 |
Source: Ownwell