Greenwich, Cumberland County, New Jersey Property Taxes
Median Greenwich, NJ effective property tax rate: 3.23%, significantly higher than the national median of 1.02%, but lower than the New Jersey state median of 2.82%.
Median Greenwich, NJ home value: $190,890
Median annual Greenwich, NJ tax bill: $6,160, $3,760 higher than the national median property tax bill of $2,400.
How are property taxes in Cumberland calculated?
Property taxes in Greenwich, 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 Greenwich’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Greenwich, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Greenwich, Cumberland County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.58%
Estimate Property Tax Bill
$5,975
$5,545
Property Tax Rates Across Greenwich, Cumberland County, New Jersey
Local government entities set property tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.
In Greenwich, Cumberland County, New Jersey, the effective property tax rate is notably higher than the national median of 1.02%. This reflects the local government's budgetary needs and the total assessed property value in the area. New Jersey's median property tax rate is among the highest in the nation, which can significantly impact homeowners' annual expenses.
Comparing Greenwich’s effective property tax rate to other cities in New Jersey and the U.S. highlights the variations in tax burdens homeowners face. These differences underscore the importance of understanding local tax rates and exploring potential tax appeal and exemption opportunities. By doing so, homeowners can potentially reduce their property tax liabilities and manage their financial obligations more 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 Greenwich Tax Rate
3.58%
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 Cumberland County Tax Rate
3.18%
Median Effective New Jersey Tax Rate
2.88%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Greenwich, Cumberland County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08323 | 3.58% | 3.58% | 3.58% | 3.58% | 3.58% |
Source: Ownwell
Property Tax Assessment Values Across Greenwich, Cumberland County, New Jersey
When examining property taxes in Greenwich, 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 Cumberland County Tax Assessor's Office 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 Cumberland 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 Greenwich.
For example, the median home price in Greenwich is $190,890, with tax bills ranging significantly across the county. Zip code 08323 has the highest median home price at $190,890.
Property Tax Assessment Values Across Greenwich, Cumberland County, New Jersey
Source: Ownwell
$101,200
$171,225
$241,250
Median Greenwich Market Value
$166,900
Median Cumberland County Market Value
$136,000
Median New Jersey Market Value
$288,200
Median United States Market Value
$235,294
Property Tax Assessment Values Across Greenwich, Cumberland County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08323 | $105,300 | $135,000 | $166,900 | $207,400 | $270,100 |
Source: Ownwell
Property Tax Bills Across Greenwich, Cumberland County, New Jersey
Median Greenwich Tax Bill
$5,950
Median Cumberland County Tax Bill
$4,582
Median New Jersey Tax Bill
$8,638
Median United States Tax Bill
$2,400
Property Tax Bills Across Greenwich, Cumberland County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08323 | $3,759 | $4,801 | $5,950 | $7,360 | $9,569 |
Source: Ownwell