New Jersey Property Tax Calculator
Calculate New Jersey property taxes. Effective rate: 2.49%. Estimate annual and monthly property tax on your home.
How This Calculator Works
Calculation methodology and assumptions
Property tax is calculated by multiplying the assessed value of your property by the local tax rate. In New Jersey, the effective property tax rate averages 2.49%. This calculator uses the effective rate, which accounts for the difference between assessed and market value.
Frequently Asked Questions
What is the property tax rate in New Jersey?
New Jersey's effective property tax rate is 2.49%. On a $470,000 home, that's approximately $11,703 per year or $975/month.
Does New Jersey have a homestead exemption?
New Jersey does not offer a significant statewide homestead exemption, though some counties may have local exemptions.
When are property taxes due in New Jersey?
Property tax due dates vary by county in New Jersey. Most counties bill semi-annually or annually. Check with your county assessor's office for specific dates. Many mortgage lenders collect property taxes monthly as part of escrow.
How does New Jersey's property tax compare to other states?
New Jersey's rate of 2.49% is among the highest in the nation. Only states like New Jersey (2.49%) and Illinois (2.27%) are higher.
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