Property Tax Rates & Rules
New Jersey has an average effective property tax rate of 2.23%, making it one of the higher property tax states in the nation. On a median-valued home of $500,000, the typical annual property tax bill is $11,150. Homeowners may qualify for a homestead exemption, which can reduce the taxable value of a primary residence. ANCHOR program provides direct property tax relief credits to eligible homeowners. Senior citizens may qualify for additional exemptions or tax relief programs. If you believe your property is over-assessed, you have the right to appeal.
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).
What is the property tax rate in New Jersey?
New Jersey has an average effective property tax rate of 2.23%. On a home valued at $500,000, the typical annual property tax bill is approximately $11,150. Rates vary by county — Essex has the highest rates while Cape May has the lowest.
Does New Jersey have a homestead exemption?
Yes. New Jersey offers a homestead exemption for primary residences. ANCHOR program provides direct property tax relief credits to eligible homeowners.
How is property assessed in New Jersey?
New Jersey assesses property at 100%. Assessed by local municipal assessors; ratio to true value varies by district. The assessed value is then multiplied by the local mill rate to determine your property tax bill.
How do I appeal my property tax assessment in New Jersey?
File with County Board of Taxation by April 1 (or 45 days after assessment notice).
Are there senior property tax exemptions in New Jersey?
Yes. New Jersey offers property tax relief for senior citizens. Senior Freeze (Property Tax Reimbursement) program and $250 annual deduction for 65+.
When are property taxes due in New Jersey?
New Jersey property taxes are paid on a Quarterly: February 1, May 1, August 1, and November 1.. Contact your county tax collector for exact due dates and payment options for your area.
How does New Jersey property tax compare to neighboring states?
New Jersey's average effective rate of 2.23% is above the national average of approximately 1.1%. Use the comparison table above to see how neighboring states compare.
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Official Source
New Jersey Tax Authority
Last verified: 2026-03-31 · Always confirm current rates before making real estate decisions.