New Jersey’s highest-in-the-nation average property tax bill hit $9,112 last year.
And while the average property tax bill in the state and in each municipality tells us how much New Jersey’s homeowners are really paying, it’s not the best way to measure which towns take the biggest or smallest bite.
Those with with million-dollar houses will inevitably have higher average property tax bills and those with lower property values tend to have lower average property tax bills, which are a function of property values and property tax rates.
The best way to compare tax bills is using the equalized tax rate.
Property taxes are figured by the rate towns charge and how much the town says your house is worth, something called the assessed value.
Some towns assess the value of homes at about 100 percent of what they’ll sell for on the market. Others, however, assess homes at a much lower value because decades have passed since their last revaluation.
As a result, those towns might charge a higher tax rate on its properties to generate the same amount of tax revenue as another town. So your tax rate could be higher than someone who owns a similar house in another town, but you may not actually pay more if your town says your house is worth less.
The equalized tax rate shows what your tax rate would look like if every house was assessed at 100 percent of what it will get on the open market.
The average equalized tax rate in New Jersey was 2.279 in 2020, according to data from the Department of Community Affairs.
Here is the list of 30 New Jersey towns with the lowest property tax rates.
30. Interlaken
Equalized tax rate in Interlaken Borough, Monmouth County, was 1.125 in 2020
Average equalized tax rate in Monmouth County: 1.812
Tax rate on homeowners’ bills: 1.207
Average property value: $732,296
Average property tax bill: $8,840
29. Hoboken
Equalized tax rate in Hoboken City, Hudson County, was 1.090 in 2020
Average equalized tax rate in Hudson County: 1.657
Tax rate on homeowners’ bills: 1.610
Average property value: $524,986
Average property tax bill: $8,453
28. West Cape May
Equalized tax rate in West Cape May Borough, Cape May County, was 1.082 in 2020
Average equalized tax rate in Cape May County: 0.952
Tax rate on homeowners’ bills: 1.315
Average property value: $466,017
Average property tax bill: $6,128
27. Harding
Equalized tax rate in Harding Township, Morris County, was 1.060 in 2020
Average equalized tax rate in Morris County: 2.213
Tax rate on homeowners’ bills: 1.093
Average property value: $1,296,848
Average property tax bill: $14,177
26. Rockleigh
Equalized tax rate in Rockleigh Borough, Bergen County, was 1.026 in 2020
Average equalized tax rate in Bergen County: 2.216
Tax rate on homeowners’ bills: 0.871
Average property value: $1,624,131
Average property tax bill: $14,146
25. Beach Haven
An aerial photo of Beach Haven.Sophie Nieto-Munoz | NJ Advance Media for NJ.com
Equalized tax rate in Beach Haven Borough, Ocean County, was 0.999 in 2020
Average equalized tax rate in Ocean County: 1.751
Tax rate on homeowners’ bills: 1.120
Average property value: $833,628
Average property tax bill: $9,340
24. Saddle River
Equalized tax rate in Saddle River Borough, Bergen County, was 0.992 in 2020
Average equalized tax rate in Bergen County: 2.216
Tax rate on homeowners’ bills: 0.958
Average property value: $1,900,759
Average property tax bill: $18,210
23. Loch Arbour
Equalized tax rate in Loch Arbour Village, Monmouth County, was 0.984 in 2020
Average equalized tax rate in Monmouth County: 1.812
Tax rate on homeowners’ bills: 0.704
Average property value: $1,624,633
Average property tax bill: $11,434
22. Ship Bottom
Equalized tax rate in Ship Bottom Borough, Ocean County, was 0.950 in 2020
Average equalized tax rate in Ocean County: 1.751
Tax rate on homeowners’ bills: 1.057
Average property value: $647,388
Average property tax bill: $6,842
21. Longport
Equalized tax rate in Longport Borough, Atlantic County, was 0.943 in 2020
Average equalized tax rate in Atlantic County: 2.560
Tax rate on homeowners’ bills: 0.986
Average property value: $1,133,612
Average property tax bill: $11,173
20. Avon-by-the-Sea
Equalized tax rate in Avon-by-the-Sea Borough, Monmouth County, was 0.929 in 2020
Average equalized tax rate in Monmouth County: 1.812
Tax rate on homeowners’ bills: 1.199
Average property value: $865,811
Average property tax bill: $10,382
19. Harvey Cedars
Harvey Cedars
Equalized tax rate in Harvey Cedars Borough, Ocean County, was 0.922 in 2020
Average equalized tax rate in Ocean County: 1.751
Tax rate on homeowners’ bills: 0.928
Average property value: $1,047,503
Average property tax bill: $9,720
18. Surf City
Equalized tax rate in Surf City Borough, Ocean County, was 0.868 in 2020
Average equalized tax rate in Ocean County: 1.751
Tax rate on homeowners’ bills: 0.872
Average property value: $860,455
Average property tax bill: $7,504
17. Barnegat Light
Equalized tax rate in Barnegat Light Borough, Ocean County, was 0.867 in 2020
Average equalized tax rate in Ocean County: 1.751
Tax rate on homeowners’ bills :0.902
Average property value: $793,608
Average property tax bill: $ 7,162
16. Long Beach
Equalized tax rate in Long Beach Township, Ocean County, was 0.866 in 2020
Average equalized tax rate in Ocean County: 1.751
Tax rate on homeowners’ bills: 0.993
Average property value: $956,197
Average property tax bill: $9,499
15. Cape May
Equalized tax rate in Cape May City, Cape May County, was 0.862 in 2020
Average equalized tax rate in Cape May County: 0.952
Tax rate on homeowners’ bills: 0.968
Average property value: $654,179
Average property tax bill: $6,335
14. Ocean City
Equalized tax rate in Ocean City, Cape May County, was 0.857 in 2020
Average equalized tax rate in Cape May County: 0.952
Tax rate on homeowners’ bills: 0.975
Average property value: $609,890
Average property tax bill: $5,945
13. Bay Head
Makeup mogul Bobbi Brown sold her oceanfront Bay Head home for $3.6 million in 2018.
Equalized tax rate in Bay Head Borough, Ocean County, was 0.836 in 2020
Average equalized tax rate in Ocean County: 1.751
Tax rate on homeowners’ bills: 0.876
Average property value: $1,578,046
Average property tax bill: $13,818
12. Lavallette
Equalized tax rate in Lavallette Borough, Ocean County, was 0.808 in 2020
Average equalized tax rate in Ocean County: 1.751
Tax rate on homeowners’ bills: 0.821
Average property value: $876,244
Average property tax bill: $7,191
11. Alpine
Equalized tax rate in Alpine Borough, Bergen County, was 0.769 in 2020
Average equalized tax rate in Bergen County: 2.216
Tax rate on homeowners’ bills: 0.758
Average property value: $2,774,601
Average property tax bill: $21,042
10. Sea Girt
Equalized tax rate in Sea Girt Borough, Monmouth County, was 0.706 in 2020
Average equalized tax rate in Monmouth County: 1.812
Tax rate on homeowners’ bills: 0.664
Average property value: $2,028,641
Average property tax bill: $13,469
9. Walpack
Equalized tax rate in Walpack Township, Sussex County, was 0.672 in 2020
Average equalized tax rate in Sussex County: 2.983
Tax rate on homeowners’ bills: 0.751
Average property value: $68,423
Average property tax bill: $514
8. Mantoloking
The wide beaches of Mantoloking.Andrew Mills | NJ Advance Media for NJ.com
Equalized tax rate in Mantoloking Borough, Ocean County, was 0.668 in 2020
Average equalized tax rate in Ocean County: 1.751
Tax rate on homeowners’ bills: 0.711
Average property value: $2,713,900
Average property tax bill: $19,304
7. Allenhurst
Equalized tax rate in Allenhurst Borough, Monmouth County, was 0.652 in 2020
Average equalized tax rate in Monmouth County: 1.812
Tax rate on homeowners’ bills: 0.790
Average property value: $2,071,295
Average property tax bill: $16,369
6. Deal
Equalized tax rate in Deal Borough, Monmouth County, was 0.619 in 2020
Average equalized tax rate in Monmouth County: 1.812
Tax rate on homeowners’ bills: 0.713
Average property value: $2,679,542
Average property tax bill: $19,117
5. Sea Isle
Equalized tax rate in Sea Isle City, Cape May County, was 0.601 in 2020
Average equalized tax rate in Cape May County: 0.952
Tax rate on homeowners’ bills: 0.732
Average property value: $674,918
Average property tax bill: $4,943
4. Spring Lake
Equalized tax rate in Spring Lake Borough, Monmouth County, was 0.583 in 2020
Average equalized tax rate in Monmouth County: 1.812
Tax rate on homeowners’ bills: 0.617
Average property value: $2,111,484
Average property tax bill: $13,029
3. Cape May Point
Cape May Point as seen from the Cape May Lighthouse. PENNLIVE.COM
Equalized tax rate in Cape May Point Borough, Cape May County, was 0.556 in 2020
Average equalized tax rate in Cape May County: 0.952
Tax rate on homeowners’ bills: 0.619
Average property value: $706,442
Average property tax bill: $4,373
2. Stone Harbor
Equalized tax rate in Stone Harbor Borough, Cape May County, was 0.547 in 2020
Average equalized tax rate in Cape May County: 0.952
Tax rate on homeowners’ bills: 0.607
Average property value: $1,586,891
Average property tax bill: $9,632
1. Avalon
Equalized tax rate in Avalon Borough, Cape May County, was 0.465 in 2020
Average equalized tax rate in Cape May County: 0.952
Tax rate on homeowners’ bills: 0.524
Average property value: $1,622,032
Average property tax bill: $8,492
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Samantha Marcus may be reached at smarcus@njadvancemedia.com.
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