Why Are Property Taxes So High in New Jersey?

New Jersey consistently ranks among the states with the highest property taxes in the United States. Property taxes are based on the assessed value of your property and the local tax rate.

If a property is assessed above market value, it may result in higher property taxes than necessary.

How Property Taxes Are Calculated

Property taxes in New Jersey are based on two factors:

  1. Assessed value of the property

  2. Municipal tax rate

The assessed value represents the value used by the municipality to calculate taxes.

If the assessed value exceeds market value, the property may be overassessed.

Common Reasons Taxes Are High

Property taxes may be higher than expected when:

  • The assessment does not reflect current market value

  • Comparable properties are assessed lower

  • Market conditions have changed

  • The property was reassessed at a higher value

When a Property Tax Appeal May Help

A property tax appeal may be appropriate if:

  • Your property could sell for less than the assessed value

  • Comparable homes are assessed lower

  • The property has issues affecting value

  • The assessment has increased significantly

When to File a Tax Appeal

Most New Jersey property tax appeals must be filed by:

April 1

or

45 days after the assessment notice is mailed

Missing the deadline typically means waiting until the following tax year.

Information Needed for a Review

To review a potential appeal we typically request:

  • Property address

  • Current tax assessment

  • Recent purchase information (if applicable)

  • Any recent appraisal

CTA

Free Property Tax Assessment Review

Submit your property address and we will review whether a property tax appeal may be warranted.