Free property tax calculator tailored for New Jersey (NJ). Calculate instantly with state-specific rates and rules.
New Jersey has an effective property tax rate of 2.13%, producing an average annual bill of $9,476. The US national average is 1.07% — New Jersey's rate is the highest in the United States, placing it at rank #50 out of 50 states (rank 1 = lowest).
New Jersey assesses property at 100% of true market value. However, assessment ratios vary widely by municipality — some are current while others lag by years. The state publishes Director's Ratios each year showing each municipality's ratio to enable fair comparison.
The Property Tax Deduction/Credit allows homeowners to deduct up to $15,000 in property taxes on state income tax returns. The Senior Freeze program freezes property taxes for qualifying seniors age 65+. Veterans receive a $250 annual deduction.
No statewide assessment cap. The 2% arbitration cap limits how much municipalities can increase their levy each year, but base levels are already very high.
New Jersey's property taxes are the highest in the nation in both rate and average dollar amount. A median-priced NJ home generates over $9,000/year in property taxes — roughly equivalent to the entire mortgage payment on a modest home in many other states.
The median home value in New Jersey is $480,000. New Jersey benefited from NYC out-migration during COVID, pushing suburban prices sharply higher. Bergen, Morris, Monmouth, and Somerset counties carry the highest values and highest tax bills in the state. At the 2.13% effective rate, a homeowner at the median value pays roughly $9,476/year in property taxes.
Data: Tax Foundation (2024), US Census Bureau ACS 2023, Zillow, ATTOM Data Solutions. Updated 2024–2025. Figures reflect state averages — consult a licensed professional for personalized advice.
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