Salem, Salem County, New Jersey Property Taxes

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

Median Salem, NJ effective property tax rate: 3.29%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%. Median Salem, NJ home value: $104,500. Median annual Salem, NJ tax bill: $3,668, $1,268 higher than the national median property tax bill of $2,400.

How are property taxes in Salem calculated?

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

Last Updated March 1, 2025

Salem, Salem County, New Jersey Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.29%

Estimate Property Tax Bill

$3,438

$3,190

Ownwell’s Salem Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Salem with just two data points. By entering your property's estimated assessed value, our calculator applies Salem’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your 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 Salem County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Salem, Salem County, New Jersey

Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually 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 Salem's effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S.

Salem's property tax rate stands out significantly when compared to both state and national figures. The median property tax rate in Salem is considerably higher than the national median property tax rate of 1.02%. This means homeowners in Salem are likely paying more in property taxes compared to the average American homeowner. Such a high rate can impact the affordability of owning property in this region and is a crucial factor for potential homeowners to consider. It's important for property owners in Salem to be aware of these rates and explore opportunities for property tax appeals or exemptions to potentially lower their tax burden.

Property Tax Rates Across Salem, Salem County, New Jersey

Source: Ownwell

1.62%

3.19%

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 Tax Rate

3.29%

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 Salem, Salem County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
08079	1.62%	2.86%	3.29%	7.61%	7.61%

Source: Ownwell

Property Tax Assessment Values Across Salem, Salem County, New Jersey

When examining property taxes in Salem, 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 Salem. For example, the median home price in Salem is $104,500, with tax bills ranging significantly across the county. Zip code 08079 has the highest median home price at $104,500.

Property Tax Assessment Values Across Salem, Salem County, New Jersey

Source: Ownwell

$89,450

$178,125

$266,800

Median Salem Market Value

$104,500

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 Salem, Salem County, New Jersey

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
08079	$31,000	$48,000	$104,500	$171,800	$238,440

Source: Ownwell

Property Tax Bills Across Salem, Salem County, New Jersey

In Salem, NJ, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. Home assessments are based on various factors, including market conditions, property size, and location. With a median home price of $104,500, homeowners in this area face a median tax bill of $3,668, significantly higher than the national median of $2,400. The tax bill can vary widely, with the 25th percentile at $2,473 and the 90th percentile reaching $7,301. These figures highlight the importance of accurate assessments and the potential for overvaluation, which can lead to inflated tax bills. Homeowners can benefit from appealing their property tax assessments, potentially saving thousands. Ownwell specializes in property tax appeal and exemption services, helping homeowners identify discrepancies in their assessments. By leveraging local expertise and data-driven insights, Ownwell can guide homeowners through the appeal process, ensuring they pay only what is fair. This can result in substantial savings, easing the financial burden of property taxes.

Property Tax Bills Across Salem, Salem County, New Jersey

Source: Ownwell

$1,408

$5,230

$9,052

Median Salem Tax Bill

$3,668

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 Salem, Salem County, New Jersey

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
08079	$1,682	$2,473	$3,668	$5,267	$7,301

Source: Ownwell