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How are New Jersey property taxes compared to other states?

By Bob Millaway, South Jersey Community Expert & REALTOR®

New Jersey consistently has the highest effective property tax rate in the United States, averaging about 2.3 percent of home value compared to the national average of around 1.1 percent. However, New Jersey also has highly rated schools and municipal services that these taxes fund.

Why It Matters

Understanding the tax burden helps you make informed decisions about where to buy and how to budget for ongoing homeownership costs in New Jersey.

Related Questions

How are property taxes calculated in New Jersey? How do I appeal my property tax assessment? What is the NJ annual property tax deduction? What is a tax assessment and how often is it done? How do property taxes affect my monthly mortgage payment?

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