08065 Property Tax Rate

Property owners in ZIP code 08065 (Palmyra, New Jersey) pay a median of $6,188/year in property taxes on homes valued at $216,600. This translates to an effective tax rate of 2.86%, which is 40% above the New Jersey state average of 2.04%.

The monthly property tax burden for a median-valued home in 08065 is approximately $516, which factors into escrow payments on mortgages. This ZIP code is located within Burlington County. This is $2,409 less than the New Jersey average of $8,597/year.

Compared to similar ZIP codes in New Jersey, 08065 has lower property taxes. ZIP codes with similar effective rates include 08002 (2.85%) and 08086 (2.86%).

In Palmyra, property taxes represent approximately 7.3% of the median household income of $85,014, providing context for the relative tax burden on homeowners in this area.

New Jersey has no statewide property tax cap; Burlington County assessments are set locally and reassess at market value at sale with no guaranteed cap on future annual increases. The Homestead Benefit Program offers tax relief for primary residences with household income ≤$150,000 (or ≤$75,000 for seniors and disabled homeowners) — submit your application to the Burlington County Tax Board by June 1 annually. File your homeowner affidavit with the Burlington County Assessor within 30 days of purchase to establish principal residence documentation.