Pennsville, Salem County, New Jersey Property Taxes
Median Pennsville, NJ effective property tax rate: 4.75%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Pennsville, NJ home value: $149,050
Median annual Pennsville, NJ tax bill: $6,736, $4,336 higher than the national median property tax bill of $2,400.
How are property taxes in Salem calculated?
Property taxes in Pennsville, 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 Pennsville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Pennsville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Pennsville, Salem County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
4.75%
Estimate Property Tax Bill
$7,080
$6,570
Property Tax Rates Across Pennsville, Salem County, New Jersey
Local government entities set property tax rates, which can vary significantly within a state. Annually, each county estimates its required budget for 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.
Pennsville in Salem County, NJ, is a prime example of how property tax rates can differ within a state. The effective property tax rate here stands at 4.75%, significantly higher than the national median of 1.02%. This rate reflects the local government's fiscal needs and the total assessed property value within the area. It's crucial for homeowners in Pennsville to understand how these rates impact their annual tax bills, especially when compared to the national median property tax bill of $2,400. By being informed, property owners can better navigate the complexities of property taxes and potentially explore appeal or exemption services to manage their tax liabilities effectively.
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 Pennsville Tax Rate
4.75%
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 Pennsville, Salem County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08070 | 3.91% | 4.62% | 4.75% | 4.75% | 4.75% |
Source: Ownwell
Property Tax Assessment Values Across Pennsville, Salem County, New Jersey
When examining property taxes in Pennsville, 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 May. 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 Pennsville. For example, the median home price in Pennsville is $149,050, with tax bills ranging significantly across the county. Zip code 08070 has the highest median home price at $149,050.
Property Tax Assessment Values Across Pennsville, Salem County, New Jersey
Source: Ownwell
$89,450
$178,125
$266,800
Median Pennsville Market Value
$149,050
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 Pennsville, Salem County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08070 | $97,930 | $120,800 | $149,050 | $181,425 | $223,110 |
Source: Ownwell
Property Tax Bills Across Pennsville, Salem County, New Jersey
In Pennsville, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the Salem County assessor and reflects the market value of the property. Homeowners in Pennsville face a median property tax bill of $6,736, significantly higher than the national median of $2,400. Factors influencing the tax bill include the property's location, size, and improvements. Homeowners in the 25th percentile pay around $5,447, while those in the 75th percentile pay approximately $8,319. For those in the 90th percentile, the tax bill can reach up to $10,259, highlighting the considerable tax burden in this area.
Ownwell offers valuable assistance to homeowners in Pennsville by providing property tax appeal services. By analyzing property assessments and comparable sales data, Ownwell identifies opportunities for reducing assessed values. This process can lead to significant savings on property tax bills, ensuring homeowners are not overpaying. With expertise in navigating the complexities of property tax appeals, Ownwell helps homeowners achieve fair and accurate tax assessments.
Median Pennsville Tax Bill
$6,736
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 Pennsville, Salem County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08070 | $4,370 | $5,447 | $6,736 | $8,319 | $10,259 |
Source: Ownwell
