Like most states in the US, New Jersey charges property taxes too. Irrespective of the fact you own a residential property or commercial, taxes are levied on both property types across all counties in New Jersey. It is important to understand property taxes as they are an important part of closing costs and appear in the ALTA statement as well.  

Generally, property Tax payments in NJ are mailed once a year in July that contains 4 quarterly payments that are due on February 1, May 1, August 1, and November 1. 

Property Tax rates across counties in New Jersey:

Property taxes are paid as a percentage of the total value of the property owned. In New Jersey, property taxes are relatively higher and come to 2.27% of the value of the property with some variations from one county to another. Here is the list of the median values of property taxes. 

 

County Median Annual Tax Tax Rate
Atlantic $6,088 2.79%
Bergen $10,000+ 2.18% (approx.)
Burlington $6,730 2.72%
Camden $6,770 3.46%
Cape May $4,472 1.51%
Cumberland $4,379 2.69%
Essex $10,000+ 2.68% (approx.)
Gloucester $6,767 3.12%
Hudson $8,395 2.31%
Hunterdon $9,384 2.33%
Mercer $7,487 2.63%
Middlesex $8,050 2.39%
Monmouth $8,450 2.07%
Morris $9,595 2.14%
Ocean $5,599 2.05%
Passaic $9,722 2.89%
Salem $5,588 3.02%
Somerset $9,260 2.20%
Sussex $7,237 2.72%
Union $9,788 2.74%
Warren $7,058 2.71%

How to calculate property taxes in New Jersey?

Calculating the property tax for any county in New Jersey is easy. Simply use the following formula

Total property tax payable = (Property Value* rate of tax for the county)

                                           ------------------------------------------------

                                                                      100

It is necessary to pay property taxes in New Jersey?

Yes. In fact, there is a separate item in the mortgage statement, if you are paying one already. If you have no mortgage, then you can also pay online using your debit or credit card.  

Are there any exemptions for property tax in New Jersey?

Yes, there are multiple conditions in New Jersey that allow exemptions property tax exemptions. These are:

  • Property Tax Deduction is provided for Veterans or Surviving Spouses
  • NJ state law also provides exemptions for senior citizens and disabled individuals. 
  • 100% exemptions for disabled veterans or their surviving spouses.  
  • Homestead exemptions for property owners 
  • Tax abatement for properties built on an urban enterprise zone.  

How to find property tax records for New Jersey?

Finding property tax information for New Jersey is very easy as it is for other states. There are many websites where you can enter the property details and county to find the details. propertyshark.com is a reliable site that allows you to search tax details for properties across New Jersey.