08002 Property Tax Rate

Property owners in ZIP code 08002 (Cherry Hill, New Jersey) pay a median of $8,597/year in property taxes on homes valued at $301,200. This translates to an effective tax rate of 2.85%, which is 40% above the New Jersey state average of 2.04%.

The monthly property tax burden for a median-valued home in 08002 is approximately $716, which factors into escrow payments on mortgages. This ZIP code is located within Camden County.

Compared to similar ZIP codes in New Jersey, 08002 has higher property taxes. ZIP codes with similar effective rates include 08065 (2.86%) and 07439 (2.85%).

In Cherry Hill, property taxes represent approximately 8.1% of the median household income of $105,523, providing context for the relative tax burden on homeowners in this area.

New Jersey has no statewide property tax cap; Camden County assessments are locally set and reassess at fair market value upon sale with no guaranteed annual increase cap. The Homestead Benefit Program provides tax relief for primary residences owned by households earning ≤$150,000 (or ≤$75,000 for seniors and disabled applicants) — submit your application to the Camden County Tax Board by June 1. Contact the Camden County Assessor within 30 days of purchase to file your principal residence declaration and request verification of your assessed value.