Taxes in Cherry Hill, New Jersey
Complete tax guide for Cherry Hill, NJ. State income tax up to 8.97%, 2.18% property tax, 6.99% sales tax. Calculate your total tax burden.
State Income Tax
8.97%
New Jersey
Property Tax
2.18%
Effective rate
Sales Tax
6.99%
Combined rate
Tax Burden
Very High
Cherry Hill, NJ Tax Overview
Population
74,553
Median Income
$93,600
Cost of Living
119.1 (100 = avg)
State Income Tax
8.97%
Median Home Price
$429,000
Cherry Hill Tax Calculator
Pre-filled with Cherry Hill median: $93,600
Total Tax Burden in Cherry Hill
$27,762
Take-Home: $65,838 · Effective Rate: 29.66%
Federal Tax
$12,206
13.04% eff.
NJ State
$8,396
8.97% eff.
FICA
$7,160
7.65% eff.
Take-Home
$65,838
70.34% kept
Tax Breakdown
| Item | Annual | Monthly |
|---|---|---|
| Gross Income | $93,600.00 | $7,800.00 |
| Federal Income Tax | -$12,206.00 | -$1,017.17 |
| New Jersey State Tax | -$8,395.92 | -$699.66 |
| Social Security (6.2%) | -$5,803.20 | -$483.60 |
| Medicare (1.45%) | -$1,357.20 | -$113.10 |
| Take-Home Pay | $65,837.68 | $5,486.47 |
Property Tax in Cherry Hill
Median Home
$429,000
Annual Tax
$9,352
Monthly Tax
$779
Effective Rate
2.18%
Sales Tax in Cherry Hill
Combined Rate
6.99%
State Portion
~4.5%
Local Portion
~2.5%
The combined sales tax rate in Cherry Hill is 6.99%, which is below the national average of 7.12%. On a $100 purchase, you would pay $6.99 in sales tax.
Tax Burden Comparison
| Tax Type | Cherry Hill | New Jersey Avg | National Avg |
|---|---|---|---|
| Income Tax | 8.97% | 8.97% | 4.6% |
| Property Tax | 2.18% | ~2.18% | 1.1% |
| Sales Tax | 6.99% | ~6.99% | 7.12% |
| Overall Burden | Very High | — | Moderate |
Tax Saving Tips for Cherry Hill Residents
- New Jersey's income tax rate of 8.97% is above average. Maximize pre-tax retirement contributions (401k up to $23,500, IRA up to $7,000) to reduce both federal and state taxable income.
- Property tax in Cherry Hill (2.18%) is above the national average. Check if you qualify for homestead exemptions or assessment appeals to reduce your property tax bill.
- Use a Health Savings Account (HSA) if eligible. Contributions are tax-deductible ($4,300 individual, $8,550 family), growth is tax-free, and withdrawals for medical expenses are tax-free.
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See detailed state tax brackets, FICA breakdown, and compare to neighboring states.
Frequently Asked Questions
What are the tax rates in Cherry Hill, NJ?
Cherry Hill, New Jersey has a state income tax rate up to 8.97%. The property tax rate is 2.18% and the combined sales tax rate is 6.99%.
How much is property tax in Cherry Hill?
The effective property tax rate in Cherry Hill is 2.18%. On the median home price of $429,000, this equals approximately $9,352 per year or $779 per month. This is above the national average of 1.1%.
What is the sales tax rate in Cherry Hill?
The combined sales tax rate in Cherry Hill is 6.99%, which includes both state and local components. This is below the national average combined rate of approximately 7.12%.
How does Cherry Hill's tax burden compare to other cities?
Cherry Hill has a very high overall tax burden. The effective total tax rate for a median-income household is approximately 36.3%. The combination of 8.97% state income tax, 2.18% property tax, and 6.99% sales tax determines the total burden. Cost of living index is 119.1 (100 = national average).
Are there any local taxes in Cherry Hill?
Cherry Hill does not impose a separate local or city income tax. Residents pay the state income tax of 8.97%, federal income tax, and FICA (Social Security and Medicare).