What is the property tax rate in New Jersey?

New Jersey has an effective property tax rate of 2.23%, ranking it #1 out of 50 states. The median homeowner pays $9,541 per year.

How are property taxes calculated in New Jersey?

Property taxes in New Jersey are calculated by multiplying the assessed value of your property by the local tax rate (millage rate). The effective rate shown here (2.23%) represents the median taxes paid as a percentage of median home value across the state.

Which county in New Jersey has the lowest property taxes?

Among New Jersey's 21 counties, Warren County has one of the lowest effective property tax rates.

Does New Jersey have a homestead exemption?

Yes, New Jersey offers several property tax exemptions including: Homestead Benefit, Senior Freeze (PTR), Veteran Deduction, Disabled Veteran. See the exemptions section above for details.

New Jersey Property Tax Rate

2023 Data · 21 Counties

2.23%effective rate

New Jersey has an effective property tax rate of 2.23%, ranking it #1 among all 50 states. The median homeowner in New Jersey pays $9,541 per year in property taxes on a home valued at $427,600. This rate is 135% higher than the national average of 0.95%.

Effective Tax Rate📊

2.23%

#1 of 50 states

Median Tax Paid🏠

$9,541

Per year

Median Home Value💰

$427,600

2023 estimate

Total Counties📍

Population: 9,267,014

Property Tax Rates by County in New Jersey

Rank ▲	County	Effective Rate	Median Tax	Median Value
#1	Camden County	3.08%	$8,063	$262,200
#2	Salem County	3.03%	$6,757	$223,000
#3	Gloucester County	2.81%	$7,964	$283,500
#4	Warren County	2.52%	$8,156	$323,100
#5	Mercer County	2.51%	$8,804	$351,000
#6	Atlantic County	2.47%	$6,749	$272,700
#7	Sussex County	2.47%	$8,462	$342,800
#8	Cumberland County	2.46%	$5,048	$205,600
#9	Burlington County	2.42%	$7,902	$326,700
#10	Passaic County	2.28%	$10,001	$439,400
#11	Middlesex County	2.20%	$9,684	$439,300
#12	Union County	2.05%	$10,001	$488,800
#13	Essex County	2.02%	$10,001	$494,400
#14	Hunterdon County	2.01%	$10,001	$498,800
#15	Somerset County	1.91%	$10,001	$523,900
#16	Hudson County	1.85%	$9,413	$508,600
#17	Morris County	1.80%	$10,001	$557,000
#18	Monmouth County	1.77%	$10,001	$566,500
#19	Ocean County	1.77%	$6,499	$366,600
#20	Bergen County	1.69%	$10,001	$593,200

How New Jersey Compares

New Jersey

2.23%

National Average

0.95%

Neighboring States

Calculate Your Property Tax in New Jersey

Property Tax Calculator

Estimate your annual property tax based on your location and home value

State

County

Home Value

$50k$2M

Apply homestead exemption ($100,000 reduction)

Estimated Annual Property Tax

$6,690

$558/month · Rate: 2.23%

Home Value

$300,000

Taxable Value

$300,000

Effective Rate

2.23%

New Jersey Property Tax Exemptions

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Homestead Benefit

Average benefit approximately $250 (varies based on income and residence)

Homeowners with income under $150,000 who owned and occupied by October 1

✓

Senior Freeze (PTR)

Reimbursement of property tax increases above base year amount

Homeowners age 65+ or disabled with income under $99,735 (for 2022 base year); must have lived in NJ 10+ years

✓

Veteran Deduction

$250 annual deduction from property taxes

Honorably discharged veterans who served during wartime; active-duty service during certain periods

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Disabled Veteran

100% exemption from property taxes

Veterans with 100% permanent and total service-connected disability

Nearby States

Delaware

0.53%

New York

1.60%

Pennsylvania

1.35%

Frequently Asked Questions

Data Source: U.S. Census Bureau, 2023 American Community Survey 5-Year Estimates. Effective tax rates are calculated by dividing median real estate taxes paid by median home value.