These towns have the lowest property taxes in each of N.J.’s 21 counties (2024)

FAQs

These towns have the lowest property taxes in each of N.J.’s 21 counties? ›

Burlington County also had the lowest average county tax in 2019, 2020 and 2021, according to DCA data. County taxes made up 14.2% of the total tax bill in 2022, which was the exact same percentage as 2021.

Burlington County also had the lowest average county tax in 2019, 2020 and 2021, according to DCA data. County taxes made up 14.2% of the total tax bill in 2022, which was the exact same percentage as 2021.

Get the best of 92.7 WOBM delivered to your inbox everyday

By the way in Ocean County the lowest property taxes were in Manchester Township, in 2021 residents paid $4,320 on average. The lowest property taxes in Monmouth County were in Shrewsbury Township where they paid $4,188 on average in 2021.

All of the data below comes from the Census Bureau's 2021 1-year American Community Survey (ACS) Estimates. Hawaii has the lowest property tax rate in the U.S. at 0.27%. The Aloha state has a home median value of $722,500.

Gloucester City is the cheapest place to live in NJ, with a median home value of just over $125,000 in 2022. This city is located in Camden County, New Jersey, and is home to around 11,500 people. The town offers a convenient location directly across the Delaware River from Philadelphia.

Millburn

Topping the list yet again is Millburn, with an average property tax bill of $24,623 in 2022, an increase of $138 when compared with the previous year. The average home in Millburn was valued at $1.3 million in 2022.

Looking at the 21 counties in New Jersey, Essex County averaged the highest tax bill with $12,910 in 2022, an increase of $227 from 2021. Cumberland County has the lowest with $4,677, which also saw an increase of $101 from 2021.

The Villages is in three counties, Lake, Marion and Sumter. Each county has its own Millage Rate. Lake is typically the highest, then Marion and Sumter with the lowest.

Do seniors get a discount on property taxes in NJ? ›

N.J.S.A.

An annual $250 deduction from real property taxes is provided for the dwelling of a qualified senior citizen, disabled person or their surviving spouse. To qualify, you must be age 65 or older, or a permanently and totally disabled individual or the unmarried surviving spouse, age 55 or more, of such person.

You cannot do anything regarding the tax rate; however, you can contest your property's assessed value. A tax assessor looks at comparable homes in the area that have sold recently and estimates your home's market value.

The median Pennsylvania property tax (statewide) is approximately $2,852. The median New Jersey property tax (statewide) is approximately $8,362. Unlike New Jersey, retirement income is not taxed in Pennsylvania.

A new report analyzes median home values, state and local income tax rates, sales and use tax rates, median real estate taxes paid and effective property tax rates across the country. Hialeah, Florida, just outside of Miami, came out on top of the list of best cities in which to own a home and save on taxes.

MoneyGeek's analysis found that Wyoming is the most tax-friendly state in America, followed by Nevada, Tennessee, Florida and Alaska. States that received a grade of A all share something in common: no state income tax. Washington and South Dakota — which both received a B — also have no state income tax.

1. Alaska. Alaska is the most tax-friendly state for retirees because it has no state income tax or tax on Social Security. And its sales tax rate is the fourth lowest on our list - fifth lowest in the U.S. But keep this in mind: The cost of living in Alaska is higher than in most states.

It's Atlantic City! According to Realtor.com, in 2021 Atlantic City was the beach town in America with the most affordable housing for sale.

What taxes do seniors pay in New Jersey? ›

Income tax: If you were 65 or older on the last day of the year for which you're filing, you're eligible for a $1,000 income tax exemption. New Jersey has also expanded eligibility for its Earned Income Tax Credit (EITC) to include those 65 and older who do not have a dependent.

New Jersey is moderately tax-friendly toward retirees. Social Security income is not taxed. Withdrawals from retirement accounts are partially taxed. Wages are taxed at normal rates, and your marginal state tax rate is 1.75%.

New Jersey income tax

The state income tax rate in New Jersey is 8.97%. It's lower than the state income tax rate in New York, which is 8.82%.

The tax rate in Alpine is comparatively low, in part because there are no local services. There is no mail delivery; residents receive their packages and mail at the post office. Residents can join the Alpine Swim and Racquet Club or the Montammy Golf Club. Garbage pickup is private, and there is no town high school.

Bermuda, Monaco, the Bahamas, and the United Arab Emirates (UAE) are four countries that do not have personal income taxes.

Unfortunately, there are no states without a property tax. Property taxes remain a significant contributor to overall state income. Tax funds are used to operate and maintain essential government services like law enforcement, infrastructure, education, transportation, parks, water and sewer service improvements.

The average property tax bill in Victory Gardens was $5,132 in 2021, the lowest in Morris County. The equalized tax rate in Harding was 1.053 in 2021, the lowest in Morris County. The average property tax bill in Manchester was $4,320 in 2021, the lowest in Ocean County.

New Jersey Property Taxes

The average effective property tax rate in New Jersey is 2.26%, compared with a national average of 0.99%. When combined with relatively high statewide property values, the average property tax payment in New Jersey is over $8,700.

What age do property taxes freeze in NJ? ›

65 or older as of December 31, 2021; or. Actually receiving federal Social Security disability benefit payments (not benefit payments received on behalf of someone else) on or before December 31, 2021, and on or before December 31, 2022.

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.

Senior Citizen, Disabled Person, or Surviving Spouse

To qualify for the annual $250 Real Property Tax Deduction, a claimant must meet requirements of: Age / Disability / Widow/Widowerhood. Citizenship. Income ($10,000 or less annually after permitted exclusions)

You (or your spouse/civil union partner) were: 65 or older as of December 31, 2021; or. Actually receiving federal Social Security disability benefit payments (not benefit payments received on behalf of someone else) on or before December 31, 2021, and on or before December 31, 2022.

More than 870,000 homeowners with incomes up to $150,000 will be eligible to receive $1,500 in relief; more than 290,000 homeowners with incomes over $150,000 and up to $250,000 will be eligible to receive $1,000; and more than 900,000 renters with incomes up to $150,000 will be eligible to receive $450 to help offset ...

Though we try to mail applications to those who may be eligible for the program, it may be necessary to contact the Senior Freeze Information Line at 1-800-882-6597 to request an application or print a copy of Form PTR-1 from our website.

Rate Levels

Most people look at Pennsylvania's 3.07% flat tax and assume that New Jersey income taxes are higher because we have an 8.97% top rate - even though that 8.97% rate only applies to income above $500,000, and New Jersey's income tax is still lower than Pennsylvania's for families making $110,000.

We have higher than average labor costs

"Arguably, our labor environment, which has tended to favor employee unions over management, drives a lot of the cost. Look at most municipalities and employee costs can be 60 percent to 70 percent of the budget," Pfeiffer said.

In 2020, the average American contributed 8.9% percent of their income in state taxes. Alaska had the lowest average overall tax burden – measured as total individual taxes paid divided by total personal income – at 5.4%, followed by Tennessee (6.3%), New Hampshire (6.4%), Wyoming (6.6%) and Florida (6.7%).

Anchorage, Alaska

The crown of Lowest Taxes in America goes to the northernmost city in our study. The state of Alaska is well-known for its taxpayer friendly policies, particularly the “Permanent Fund Dividend,” an annual payment sent to state residents who have lived in Alaska permanently for at least one year.

What states do not accept Social Security? ›

As long as you are at least 65 years old and your income from sources other than Social Security is not high, then the tax credit for the elderly or disabled can reduce your tax bill on a dollar-for-dollar basis. Let an expert do your taxes for you, start to finish with TurboTax Live Full Service.

Most states don't tax Social Security benefits. Twelve states do tax some or all of their residents' Social Security benefits, however: Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, Rhode Island, Utah, Vermont and West Virginia.

The Social Security disability five-year rule allows people to skip a required waiting period for receiving disability benefits if they had previously received disability benefits, stopped collecting those benefits and then became unable to work again within five years.

To acquire the full amount, you need to maximize your working life and begin collecting your check until age 70. Another way to maximize your check is by asking for a raise every two or three years. Moving companies throughout your career is another way to prove your worth, and generate more money.

Fortunately, there are some states that don't charge taxes on retirement income of any kind: Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington and Wyoming.

We have higher than average labor costs

"Arguably, our labor environment, which has tended to favor employee unions over management, drives a lot of the cost. Look at most municipalities and employee costs can be 60 percent to 70 percent of the budget," Pfeiffer said.

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.

65 or older as of December 31, 2021; or. Actually receiving federal Social Security disability benefit payments (not benefit payments received on behalf of someone else) on or before December 31, 2021, and on or before December 31, 2022.

When you're over 65, the standard deduction increases. The specific amount depends on your filing status and changes each year. The standard deduction for seniors this year is actually the 2022 amount, filed by April 2023.

Are property taxes higher in PA or NJ? ›

The median Pennsylvania property tax is about $2,852, while in New Jersey it's about $8,362.

Your annual income was less than $92,969* in 2020 and less than $94,178* in 2021. With some exceptions, all income must be taken into account, including Social Security, pension, etc. * Eligibility rules, income limits, and benefits may be changed by the State Budget that will take effect on July 1, 2022.

If you have questions about the Senior Freeze Program and need to speak to a Division representative, contact the Senior Freeze (Property Tax Reimbursem*nt) Hotline: 1-800-882-6597. Have a copy of your application available when you call.