Here are the 30 N.J. towns with the lowest property tax bills (2024)

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Here are the 30 N.J. towns with the lowest property tax bills? ›

Average annual property-tax bill tops $9,800

The average New Jersey property-tax bill increased by more than $300 last year and now tops $9,800, according to the latest data from the state.

Average annual property-tax bill tops $9,800

The average New Jersey property-tax bill increased by more than $300 last year and now tops $9,800, according to the latest data from the state.

NJ Taxation

The Senior Freeze Program reimburses eligible senior citizens and disabled persons for property tax or mobile home park site fee increases on their principal residence (main home). To qualify, you must meet all the eligibility requirements for each year from the base year through the application year.

Alabama, Alaska, Florida, Georgia, Mississippi, and South Dakota stand out as states with no property taxes for seniors aged 65 and above. Alabama exempts seniors entirely, while Alaska offers a $150,000 exemption. Florida provides benefits for retirees, including property tax exemptions.

Sadly for investors, the answer is no, there are no states without property tax. This is because property tax is a useful way for local governments to fund public services such as schools, fire and police departments, infrastructure and libraries.

Miami Beach takes the No. 1 spot, with a median property tax bill of about $51,000 and a median home price of above $3 million. Four California communities landed on the list.

Which county in New Jersey has the highest property taxes? ›

The average property tax bill in Teterboro was $2,338 in 2022, the lowest in Bergen County. The equalized tax rate in Rockleigh was 0.696 in 2022, the lowest in Bergen County. The average property tax bill in Washington was $3,037 in 2022, the lowest in Burlington County.

Why are NJ property taxes so incredibly high? The Citizens of New Jersey have decided that they want very, very local control of their townships and villages. This means that every town and borough has a host of well-paid executives running the town as well as over-staffing in police and fire services.

According to personal finance website WalletHub, New Jersey has the highest real estate tax rate in the nation. With some of the highest median home values in the country, this makes New Jersey the most expensive state for property taxes.

In an effort to keep more seniors here, New Jersey last year came up with a tempting counter-offer: Stay NJ, a law intended to cut property taxes by up to 50% on primary residences for those who are 65 and older and earn less than $500,000 a year, starting in 2026. The maximum benefit would be $6,500.

Hawaii is the state with the lowest real estate property tax rate, while New Jersey is the state with the highest, according to personal finance site WalletHub. In a report released Feb. 20, WalletHub determined the states with the highest and lowest property taxes.

The average property tax bill in Teterboro was $2,338 in 2022, the lowest in Bergen County. The equalized tax rate in Rockleigh was 0.696 in 2022, the lowest in Bergen County.