The Real Deal New York

We’re No. 1: New Jersey has the highest property taxes in the nation

March 05, 2019 01:53PM

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]