Deepwater, Salem County, New Jersey Property Taxes
Property Taxes in Deepwater, New Jersey
Median Deepwater, New Jersey effective property tax rate: 4.91%, significantly higher than the national median of 1.02%, and higher than the New Jersey state median of 2.88%.
Median Deepwater, New Jersey home value: $94,700
Median annual Deepwater, New Jersey tax bill: $4,323, $1,923 higher than the national median property tax bill of $2,400.
How are property taxes in Salem calculated?
Property taxes in Deepwater, New Jersey 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 Deepwater's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Deepwater, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Deepwater, Salem County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
4.91%
Estimate Property Tax Bill
$4,650
$4,315
How Does the Deepwater Property Tax Calculator Work?
Use this Deepwater property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Deepwater's median effective tax rate of 4.91% — based on actual property records in Salem County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessor uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Deepwater's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Deepwater's median effective tax rate is higher than New Jersey's 2.88% median rate, and the median property tax bill is $4,323, which is $1,923 higher than the state median bill. Your bill may vary by ZIP code within Deepwater, with rates currently shown at 08023.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Deepwater.
About Deepwater Property Taxes
About Property Taxes in Deepwater, Salem, New Jersey
Deepwater’s median effective property tax rate of 4.91% is higher than the New Jersey state median of 2.88% and higher than the national median of 1.02%. This rate reflects the Salem County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Deepwater. Homeowners in the 08023 ZIP code carry a median effective rate of 4.91%, while those in the same ZIP pay 4.91%. This spread reflects how school district boundaries and local assessment districts are drawn across Salem County. Understanding which part of Deepwater you live in can make a meaningful difference to your annual tax bill.
Deepwater homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the April 1, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Deepwater, Salem County, New Jersey
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, 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, in a nutshell, this is the annual process.
Below, you can compare Deepwater's effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S.
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 Deepwater Tax Rate
4.91%
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
3.97%
Median Effective New Jersey Tax Rate
2.88%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Deepwater, Salem County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08023 | 3.56% | 4.91% | 4.91% | 4.91% | 4.91% |
Source: Ownwell
Property Tax Assessment Values Across Deepwater, Salem County, New Jersey
When examining property taxes in Deepwater, New Jersey, 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.
Assessment notices:
In Salem County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of February.
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 Deepwater.
For example, the median home price in Deepwater is $94,700, with tax bills ranging significantly across the county. 08023 has the highest median home price at $94,700.
Property Tax Assessment Values Across Deepwater, Salem County, New Jersey
Source: Ownwell
$94,400
$181,450
$268,500
Median Deepwater Market Value
$94,700
Median Salem County Market Value
$151,600
Median New Jersey Market Value
$288,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Deepwater, Salem County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08023 | $63,810 | $78,800 | $94,700 | $107,725 | $132,600 |
Source: Ownwell
Property Tax Bills Across Deepwater, Salem County, New Jersey
Deepwater property tax bills are calculated by applying the local tax rate to a home’s assessed value, which is based on the property’s market value. The assessed value is the starting point for the bill, and local taxing authorities use it to determine how much each homeowner owes for schools, county services, and other public needs. Because the bill is tied to assessed value, changes in the market can affect what a homeowner pays.
For Deepwater, the median home price is $94,700, while the median property tax bill is $4,323 in ZIP code 08023. That bill is well above the national median property tax bill of $2,400 and reflects a higher-than-average tax burden relative to home value. Bills in the area also range from $3,764 at the 25th percentile to $6,001 at the 90th percentile, showing that tax costs can vary significantly from one homeowner to another.
Median Deepwater Tax Bill
$4,323
Median Salem County Tax Bill
$5,981
Median New Jersey Tax Bill
$8,638
Median United States Tax Bill
$2,400
Property Tax Bills Across Deepwater, Salem County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08023 | $3,070 | $3,764 | $4,323 | $5,135 | $6,001 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | April 1 |
Links | |
|---|---|
| Salem Tax Assessor | |
| Website | newjersey.maps.arcgis.com |