We’re #1: New Jersey has highest property taxes in the nation

New York /
Mar.March 05, 2019 02:14 PM

Garden State residents bear a heavier property tax load that any state in the nation, according to a new report by personal finance website WalletHub. New Jersey has a 2.44 percent tax rate, the report found. For a home valued at $321,100, which is the median price point in New Jersey, residents would pay about $4,725 annually in real estate property tax. Millburn Township in Essex County is the municipality with the highest property taxes in the state with an average bill of $24,308 in 2018, according to NJ.com. Millburn just beat out Alpine, a Bergen County borough home to White House adviser Kellyanne Conway and many other big names among its 1,800 residents. The U.S. Census Bureau states that the average American household spends about $2,279 on property taxes annually. [NBC 4]


Related Articles

arrow_forward_ios
A rendering of the facility at 1029 Newark Avenue in Elizabeth, Fidelco chairman Marc Berson and Elberon Development Group chairman Ann Evans Estabrook (Photos via JLL, Fidelco and Elberon)
Cold storage facility in New Jersey gets $34M loan
Cold storage facility in New Jersey gets $34M loan
(Getty)
Summer camps can reopen, but much remains unknown
Summer camps can reopen, but much remains unknown
Progress Capital partner Brad Domenico and the development at 136 Summit Avenue (Photos via Progress Capital)
Jersey City development advances with $30M construction loan
Jersey City development advances with $30M construction loan
Trump Plaza in Atlantic City (Getty)
Trump Plaza in Atlantic City is demolished
Trump Plaza in Atlantic City is demolished
Condé Nast CEO Roger Lynch and Durst Organization chairman Douglas Durst (Getty, iStock)
Condé Nast considers move to Gold Coast to save money
Condé Nast considers move to Gold Coast to save money
A rendering of Moorestown Mall (Courtesy of PREIT)
Apartments, hotel to be added to Moorestown Mall
Apartments, hotel to be added to Moorestown Mall
The 5,400-square-foot McMansion in Colts Neck, New Jersey (Photos via Robert DeFalco Realty)
It’s Christmas every day at this New Jersey home
It’s Christmas every day at this New Jersey home
Newark Mayor Ras Baraka (Getty)
“Nobody wants to follow the rules”: Covid spike triggers Newark crackdown
“Nobody wants to follow the rules”: Covid spike triggers Newark crackdown
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...