New Jersey

Property Tax Rates & Rules

2.23%

Effective Rate

$11,150

Median Annual Tax

$500k

Median Home Value

Available

Homestead Exempt

Full Tax Details

Avg Effective Rate2.23%

Median Home Value$500,000

Median Annual Tax$11,150

Assessment Ratio100%

Homestead ExemptionYes

Senior ExemptionYes

Highest Rate CountyEssex

Lowest Rate CountyCape May

Payment ScheduleQuarterly: February 1, May 1, August 1, and November 1.

Assessment Method

Assessed by local municipal assessors; ratio to true value varies by district.

Homestead Exemption Details

ANCHOR program provides direct property tax relief credits to eligible homeowners.

Senior Exemption Details

Senior Freeze (Property Tax Reimbursement) program and $250 annual deduction for 65+.

How to Appeal Your Assessment

File with County Board of Taxation by April 1 (or 45 days after assessment notice).

Official Source

New Jersey Tax Authority

Last verified: 2026-03-31 · Always confirm current rates before making real estate decisions.