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Joel Katz

Highest Real Estate Taxes in New Jersey

Author Joel Katz
Governor Phil Murphy smiles and points at the camera. Real Estate taxes in New Jersey are the highest in the country.

No one in New Jersey likes paying taxes. Whether it’s income tax, real estate taxes, sales tax, or gas tax, the taxes in New Jersey list is long.

Many of us feel it’s a responsibility to pay our taxes. You need to contribute your fair share to help society and to support others. Our taxes are used for important things like schools and police.

There’s also that feeling of frustration and resentment. Many of us believe, “I work hard for my money and it feels like most of it is just taken away.” Then we feel it’s wasted on things that we wouldn’t approve.

Fear of the Unknown

There’s also the fear of the unknown when actually doing our taxes. “I don’t do my own taxes because I’ll do something wrong and get in a lot of trouble.” So we have to pay an accountant to figure it out for us.

Real Estate Taxes in New Jersey

The one tax that annoys people in New Jersey the most is our real estate taxes. People who love New Jersey and have lived here their whole lives are moving out because they can’t afford the real estate taxes.

The people leaving for this reason also have to pay what is called an exit tax. According to visionretirement.com  “When you sell a home in New Jersey, you’re required to pay taxes on any sales profits. This is true whether your home is a principal residence, second home, or investment property.”

Compared to other states, New Jersey sits at the top of the list regarding high real estate taxes. Yahoo Finance reported earlier this year that the average annual property tax is over ten thousand dollars. In some areas the home value versus the annual real estate tax is ridiculous. It’s also the number one complaint among homeowners in the Garden state.

According to tapinto.net, the “Borough of Tavistock in Camden County averages $38,206 in property taxes.” The highest averages in other New Jersey counties range from $21,372 in Princeton, Mercer County, and $24,947 in Millburn, Essex County.

The highest in Middlesex County is Metuchen. “Metuchen paid the highest property taxes.” Their tax bill averages $12,728 with a median home value of only $189,372.  It’s an interesting comparison with New Brunswick homeowners. Those in the county seat have the lowest tax bills. They pay $6,656, but their home value averages 261,819.

Unfortunately, New Jersey is a great place to live, but the taxes make it impossible for many to move or stay here. Lifelong residents are being forced out, and many need to purchase homes in other states that are more affordable.

10 Best Places To Buy A Home In New Jersey In 2022

Figuring out where you want to live can be a challenge. Now that you’ve decided New Jersey is where you want to plant your roots, you now have to pick exactly where you’d like to live. The Garden State is a unique place and has a vast majority of different types of neighborhoods for you to choose from. You have cities, suburbs, rural, and shore towns right at your fingertips.

According to The Spruce, location is the most important part of the home-buying process. The site also suggests other important factors to consider when buying a home: “So when you go house hunting, consider proximity to your work, how the home is situated on the lot, ease of access, noise from neighbors, and traffic. Also think about access to parks, shopping, schools, and public transportation.”

Niche put together a list of 10 unique New Jersey neighborhoods to buy a home based on their public school system, if the neighborhood is good for families, crime and safety rate, nightlife, diversity, and of course housing.

Take a look at the top 10 places in New Jersey to buy a home in 2022 according to Niche below:

  • 10. Ho-Ho-Kus

    Ho-Ho-Kus has a population of 4,096 and is a borough located in Bergen County.”Living in Ho-Ho-Kus offers residents a rural feel and most residents own their homes. Many retirees live in Ho-Ho-Kus and residents tend to lean toward conservative,” Niche states. According to realtor.com, the average home in Ho-Ho-Kus is listed for $999K. Take a look at the scorecard below:

    Public Schools : A+
    Housing: A-
    Good For Families: A+
    Crime & Safety: A-
    Nightlife: B+
    Diversity: C+

  • 9. Greentree

    Greentree is located in Cherry Hill township within Camden County. The population of Greentree is 10,597. “Living in Greentree offers residents a dense suburban feel and most residents own their homes. Many young professionals live in Greentree and residents tend to have moderate political views. ” Niche states. According to realtor.com, the average home in Greentree is listed for $427K.

    Take a look at their scorecard below:

    Public Schools : A+
    Housing: A-
    Good For Families: A+
    Crime & Safety: N/A
    Nightlife: B+
    Diversity: A-

  • 8. Glen Rock

    Glen Rock has a population of 11,747 and is located in Bergen County. “Living in Glen Rock offers residents a sparse suburban feel and most residents own their homes. In Glen Rock there are a lot of restaurants, coffee shops, and parks. Many families live in Glen Rock and residents tend to lean conservative,” per Niche. According to realtor.com, the average home in Glen Rock is listed for $805K. Take a look at the scorecard below:

    Public Schools: A+
    Housing: A-
    Good For Families: A+
    Crime & Safety: A-
    Nightlife: A-
    Diversity: B

  • 7. Glen Ridge

    Glen Ridge has a population of 7,583 and is located in Essex County. “Living in Glen Ridge offers residents a dense suburban feel and most residents own their homes. In Glen Ridge there are a lot of parks. Many families live in Glen Ridge and residents tend to be liberal,” Niche states. According to relator.com, the average home for Glen Ridge is listed for $854K. Take a look at the scorecard below:

    Public Schools : A+
    Housing: A-
    Good For Families: A+
    Crime & Safety: B
    Nightlife: B-
    Diversity: B-

  • 6. Springdale

    Springdale has a population of 14,111 and is located in Camden County. “Living in Springdale offers residents a sparse suburban feel and most residents own their homes. Many retirees live in Springdale and residents tend to have moderate political views,” Niche states. According to relator.com, the average home in Springdale is listed for $479.9K.

    Take a look at the scorecard below:

    Public Schools : A+
    Housing: A-
    Good For Families: A+
    Crime & Safety: N/A
    Nightlife: B
    Diversity: B+

  • 5. Beckett

    Beckett has a population of 5,091 and is located in Gloucester County. “Living in Beckett offers residents a suburban rural mix feel and most residents own their homes. Many young professionals live in Beckett and residents tend to have moderate political views,” Niche states. According to realtor.com, the average home in Beckett is listed for $284.5K.

    Take a look at the scorecard below:

    Public Schools : A
    Housing: A-
    Good For Families: A+
    Crime & Safety: N/A
    Nightlife: C+
    Diversity: B+

  • 4. Robbinsville

    Robbinsville has a population of 2,836 and is located in Mercer County.”Living in Robbinsville offers residents an urban-suburban mix feel and most residents own their homes. Many families live in Robbinsville and residents tend to have moderate political views,” per Niche. According to realtor.com, a home in Robbinsville lists for $549.5K.

    Take a look at the scorecard below:

    Public Schools : A+
    Housing: A-
    Good For Families: A+
    Crime & Safety: N/A
    Nightlife: B-
    Diversity: A-

  • 3. Mountain Lakes

    Mountain Lakes has a population of 4,249 and is located in Morris County.”Living in Mountain Lakes offers residents a rural feel and most residents own their homes. Residents of Mountain Lakes tend to lean conservative,” per Niche. According to realtor.com, a home in Mountain Lakes lists for $935K.

    Take a look at the scorecard below:

    Public Schools : A+
    Housing: A-
    Good For Families: A+
    Crime & Safety: A
    Nightlife: B-
    Diversity: C+

  • 2. Monmouth Junction

    Monmouth Junction has a population of 8,911 and is located in Middlesex County. ” Living in Monmouth Junction offers residents a suburban rural mix feel and most residents own their homes. Many families live in Monmouth Junction and residents tend to lean liberal,” per Niche. According to realtor.com, the average home in Monmouth Junction is listed for $550K.

    Take a look at the scorecard below:

    Public Schools : A+
    Housing: A-
    Good For Families: A+
    Crime & Safety: N/A
    Nightlife: C
    Diversity: A-

  • 1. Princeton Junction

    Coming in at number one for the best place to buy a home in New Jersey is (drumroll, please) Princeton Junction. Princeton Junction has a population of 1,989 and is located in Mercer County. “Living in Princeton Junction offers residents a dense suburban feel and most residents own their homes. In Princeton Junction there are a lot of parks. Many families live in Princeton Junction and residents tend to have moderate political views,” per Niche. According to realtor.com, the average home listed in Princeton Junction is $749.5K.

Joel Katz is the Morning Show Personality, Assistant Program Director, Podcast Host, Voiceover artist, audio producer, and Digital Content Writer for Magic 98.3. Joel has been working in New Jersey radio since college and started at Magic in 2002 as the Morning Show Host, “I can’t think of another place where I’d fit more perfectly; it’s just a great company with awesome people.” Joel is married to Kathleen, his elementary school sweetheart (they were each other’s first dates at age 9), shares a birthday with his oldest son, Ty, and has twins, Kiera and Liam. Joel runs at least 3.1 miles every day and enjoys playing basketball, doing laundry, saving his turn signal for when he really needs it, kissing dogs through a fence, using coasters, making that cool noise by rubbing his fingers on balloons, and chasing after ping pong balls on a windy cruise ship.

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