Mike Ricco selects a wheel to repair at his bike shop in Somerdale on the White Horse Pike. Homes in Woodlynne, Lindenwold, Clementon, Lawnside, Magnolia, Mount Ephraim and Bellmawr all sold, on average, below that figure, according to information supplied by the state Department of Community Affairs. That's mostly because the homes and lots are smaller. No town along the pike ranked in the top 25 of home sale average prices in the tri-county area. Low home prices can be detrimental because, in New Jersey, the value of a town's collective property forms the basis of tax rates.
Officials calculate local taxes by figuring out the total value of all property in their community.
Then, they divide the amount they need to raise to pay for services by that total property value. Declining property values mean those officials have less wealth to pull from in spreading the burden of the tax rate, even though costs continue to rise because of inflation. Mail carrier John Owens of Williamstown passes the giant man in front of Trio Tire on the White Horse Pike in Clementon. Large communities with available space can zone open areas to lure industry and business as a way of lessening the burden on homeowners. But fully developed small towns do not have that choice.