New Jersey has the highest average property taxes in the US, exceeding $9,000 annually. This stems from varying town funding needs for services like schools and emergency services. Millburn tops the list for highest property taxes (over $24,000), while Walpack has the lowest (under $1,000). These extremes highlight the disparity between towns with the highest and lowest NJ property taxes.
Why Do NJ Property Taxes Feel So Painful?
It’s not just you. New Jersey has the highest average property tax rate in the entire country. That’s right – we’re 1, but not in a good way. The average bill? Over $9,000 per year. And here’s the part that stings a little more: it’s not strictly about how fancy your house is or where your kid goes to school.
The tax rate is based on how much funding your town needs, whether it’s for schools, fire services, police, or whatever else keeps the place running. Some towns need much more, while others get by with less. This crazy imbalance leads to some of the most expensive tax bills in the nation – and on the flip side, some that are impressively low. Let’s dig into those numbers.
Top Five NJ Towns with the Highest Property Tax Rates
If you live here, you already know the pain. If you don’t, just imagine the look on your face when the bill arrives.
Town 1: Millburn
This Essex County powerhouse regularly tops the list for property tax rates. Why? Their public schools are top-tier, and the services align with a certain lifestyle. But that lifestyle means you’re paying an average tax bill north of $24,000 per year. Yup.
Town 2: Tenafly
Bergen County, anyone? Tenafly residents pay a premium for amazing schools and proximity to NYC. Don’t be surprised if you’re looking at over $21,000 annually in property taxes here.
Town 3: Princeton
Yeah, college towns aren’t exempt. Princeton pairs prestige with property taxes, so don’t expect to get off easy. The average bill? Roughly $20,000. Ouch.
I’ll pause there. Feeling overwhelmed? Let’s focus on towns that let you breathe a little easier.
Top Five NJ Towns with the Lowest Property Tax Rates
Because there is some light at the end of the tax bill tunnel.
Town 1: Walpack
This Sussex County gem has a microscopic population – less than 10 people most years. Translation? Barely any tax burden. The average annual property tax bill here? Under $1,000. Wild.
Town 2: Teterboro
Airport town! With a population of just 71, commercial properties basically handle the town’s needs. Homeowners here snag one of the lightest bills in the state, averaging under $2,000 yearly.
FAQs About NJ Property Taxes
Why are New Jersey property taxes so high?
New Jersey leans heavily on property taxes to cover schools, local services, police, and fire departments. Counties and towns have a lot of autonomy, so funding can get out of hand in wealthier places with more demand for premium services.
Can I appeal my property tax bill?
Yes! If you think your property is valued too high, you can reach out to your local tax assessor and file an appeal. It takes some paperwork and patience, but a lot of people see reductions.
Are there towns with zero property taxes in NJ?
But as we’ve seen, towns like Walpack and Teterboro come pretty close to that dream.
