New Jersey

New Jersey has an effective property tax rate of 2.23%, with a median annual property tax of $9,541. Properties are assessed at 100.0% of market value and reassessed no regular cycle (county-ordered revaluation; many municipalities have not reassessed in decades; court-ordered revaluations becoming more common). Payments are due quarterly.

Effective Rate

2.23%

Assessment Ratio

100.0%

Median Annual Tax

$9,541

Payment Frequency

Quarterly

Appeal Deadline

By April 1 to County Tax Board (or May 1 if revaluation/reassessment year). Tax Court appeal by April 1.

Due Dates

Quarterly installments due: February 1, May 1, August 1, November 1

Reassessment Cycle

No regular cycle (county-ordered revaluation; many municipalities have not reassessed in decades; court-ordered revaluations becoming more common)

Homestead Exception

No homestead exemption. ANCHOR program provides rebates up to $1,750 for homeowners based on income. Senior/disabled freeze available (income under $150,000).

Key Notes

Highest effective property tax rate in the nation. Property taxes fund local schools almost entirely. No homestead exemption available. ANCHOR rebate program partially offsets burden. Average property tax bill is highest in the US.

Late Penalty

8% per annum interest on delinquent taxes; additional 6% penalty on amounts over $10,000 (total 14%)

Back to US Property Tax Guide