Property Taxes Hit All-Time High: See Where NJ Homeowners Pay The Most

March 7, 2025

NEW JERSEY — Property tax bills hit another all-time high for Garden State homeowners last year, according to the latest numbers from Department of Community Affairs.

Newly-released data shows the average homeowner paid $10,095 in property taxes in 2024, up from $9,803 the year before. And, the average home was worth $382,988 in 2024.

Property taxes in New Jersey are made up of three parts: school, municipal, and county. In 2024, the average property owner in New Jersey paid 52.2 percent of their total for school taxes, 29.9 percent for municipal taxes, and 17.9 percent for county taxes.

The record-high budget proposed for New Jersey's next fiscal year includes $4.3 billion for property tax relief programs that will help offset that cost for some homeowners, through ANCHOR, Senior Freeze, and the upcoming Stay NJ program.

Patch took a look at state data to see where property owners paid the most last year. The small borough of Tavistock, in Camden County, had the highest average taxes in the state at $37,908, and an average property value of $2.64 million.

Here are the other New Jersey municipalities with the highest average property taxes in 2024:

  • Millburn Township (Essex): Average tax bill of $25,407 with an average property value of $1,282,294.
  • Demarest Borough (Bergen): Average tax bill of $$24,736 with an average property value of $809,319.
  • Mantoloking Borough (Ocean): Average tax bill of $24,422 with an average property value of $2,849,298.
  • Tenafly Borough (Bergen): Average tax bill of $23,833 with an average property value of $839,028.
  • Deal Borough (Monmouth): Average tax bill of $23,250 with an average property value of $5,455,180.
  • Mountain Lakes Borough (Morris): Average tax bill of $22,996 with an average property value of $963,391.
  • Glen Ridge Borough (Essex): Average tax bill of $22,985 with an average property value of $672,540.
  • Rumson Borough (Monmouth): Average tax bill of $22,954 with an average property value of $2,088,509.
  • Princeton (Mercer): Average tax bill of $22,718 with an average property value of $853,136.

Source: patch.com

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