Example of Burlington County Property Tax Calculation
Burlington County calculates property taxes based on the assessed value of the property. The assessed value is determined by the county tax assessor and is typically a percentage of the property's market value.
For example, if a property's assessed value is $100,000, and the tax rate is 2%, the property owner would owe $2,000 in property taxes for the year. This amount can be paid in full or divided into quarterly payments.
It's important to note that property tax rates can vary depending on the municipality within Burlington County, so it's best to check with the local tax office for specific rates. Additionally, property owners may be eligible for certain exemptions or deductions that could lower their overall tax bill.
If you want appeal your property tax assessment - contact your local tax assessor.
Burlington County Property Tax Rates
The following table shows the Burlington County property tax rates in US dollars per $100 of assessed property value:
| Tax | Rate per $100 Assessed Value |
|---|---|
| City | $0.68 |
| County | $0.48 |
| School District | $1.18 |
| Local Open Space | $0.02 |
| Municipal Open Space | $0.01 |
| Fire District | Varies by district |
It is important to note that the fire district tax rate varies by district within Burlington County. All property owners in Burlington County are subject to these taxes based on the assessed value of their property.
Who sets property tax rates in Burlington County ?
Who sets property tax rates in Burlington County?
The property tax rates in Burlington County are set by the local government officials. This includes the Board of Chosen Freeholders, the County Assessor, and the County Tax Administrator. These officials work together to determine the tax rates that will be applied to properties in the county.
When are the property tax rates set?
The property tax rates in Burlington County are typically set once a year. This usually takes place in the fall, after the county has assessed the value of all properties in the area. The county officials will then use this information to calculate the tax rates for the upcoming year.
How are property tax rates calculated?
The property tax rates in Burlington County are calculated based on the assessed value of each property. The county uses a formula that takes into account various factors such as the property's size, location, and condition. The tax rate is then applied to this assessed value to determine the amount of taxes owed.
What is the current property tax rate in Burlington County?
The current property tax rate in Burlington County varies depending on the municipality where the property is located. The tax rate can range from around 1.5% to 3% of the property's assessed value. It is important to check with the local government officials to determine the exact tax rate for a specific property.
Homestead exemptions in Burlington County ?
The table below summarizes the Homestead exemptions and deductions available in Burlington County, New Jersey. These exemptions and deductions can help eligible homeowners reduce their property tax liability.
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Rebate | Income-based eligibility | Up to $555 | Applied as a credit on the property tax bill |
| Senior Freeze | Age 65+, income limit | Up to $10,000 | Property tax reimbursement program |
| Veterans Deduction | Active or discharged military member | $250 | Annual deduction from property tax bill |
| Disabled Veterans Deduction | Disabled veteran | $250 | Annual deduction from property tax bill |
| Surviving Spouse of Veteran | Surviving spouse of a veteran | $250 | Annual deduction from property tax bill |
| Partial Exemption for Disabled/Blind | Disability or blindness | Varies | Varies by degree of disability or blindness |
It is important to note that eligibility requirements and amounts may vary by exemption or deduction. Homeowners should consult with their local tax assessor's office for more information on applying for these programs.
When is Burlington County Property Tax due ?
Burlington County Property Tax is typically due on the first of February each year. Property owners should plan ahead and ensure that they have the funds available to pay their property taxes on time to avoid any late fees or penalties.
There are several payment methods available for property owners in Burlington County, including:
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Online payments: Property owners can pay their property taxes online through the Burlington County website. They can use a credit card, debit card or e-check to make payments.
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Mail-in payments: Property owners can also choose to mail in their payment to the Burlington County Tax Collector's office. They can send in a check or money order along with their payment stub.
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In-person payments: Property owners can also make their payment in person at the Burlington County Tax Collector's office. They can pay with cash, check or money order.
It's important to note that if a property owner fails to pay their property taxes by the due date, they will be subject to late fees and penalties. So, it's best to plan ahead and make sure that you have the funds available to pay your property taxes on time.
If you have more questions - contact your local tax collector.
How is Burlington County Property Tax penalty calculated ?
The Burlington County Property Tax penalty is calculated based on a percentage of the outstanding balance of the property tax bill. The penalty rate varies depending on how long the taxes remain unpaid. Here's an example:
| Tax Bill Amount | Payment Due Date | Penalty Rate | Penalty Amount |
|---|---|---|---|
| $5,000 | Feb. 1 | 8% | $400 |
| $5,000 | May 1 | 12% | $600 |
| $5,000 | Aug. 1 | 18% | $900 |
If a property owner fails to pay their property taxes by the due date, they will be charged a penalty based on the percentage outlined in the table above. For example, if a property owner does not pay their $5,000 tax bill by the May 1 due date, they will be charged a 12% penalty, which amounts to $600. The penalty will continue to increase over time if the taxes remain unpaid.
It's important for property owners to pay their taxes on time to avoid penalties and potential legal action. If someone is struggling to pay their property taxes, they should reach out to their local tax office to see if they offer any payment plans or assistance programs.
We recommend contacting the Burlington County Tax Office or a local tax professional for the most up-to-date and accurate information.