Friday, January 27, 2017

NJ Property Tax Increase

TRENTON -- On Wednesday, the state released the latest New Jersey property tax numbers for 2016, and it wasn't pretty.
According to the latest figures, New Jersey property owners paid $8,549, $196 more than they did the previous year.
The data showed that in 2016 the average tax bill increased about 2.35 percent. It was slightly higher than the 2.2 percent increase in 2015.

Essex County property owners were hit the hardest, paying an average of $11,550, followed by Bergen County at $11,311 and Union County at $10,821. Cumberland County taxpayers paid the least, an average of $4,027, according to the state data.

As the statewide property taxes surges year after year, is your town part of the trend? Or have taxes in your municipality gone down?
Find out using our comparison tool with the latest property tax data below. You can choose your town from the dropdown menu and compare it to other towns.
We also included how much the taxes have changed since 2010- the year Gov. Chris Christie instituted a 2 percent property tax cap that went into effect the following year. Pension and health benefit costs, debt and emergency expenses are not subject to the cap, however.
Note: In the graphic, we're including two numbers for 2010 property tax figures- one that's adjusted for 2016 inflation and one that's not. This is to note how much you spent in 2010 in property taxes is actually worth in 2016 dollars.

Avg. Property Taxes



Since 2010
2 Percent Property Tax Cap

201620102010 Adj.*

Change Since 2010Change Since 2010 Adj.*
* These 2010 tax numbers have been adjusted for 2016 inflation.

No comments: