🏠 Average NJ property taxes close in on $10,000

🏠 One town saw a jump of over 29%

🏠 Compare your town's average tax bill in list below

TRENTON — Living in the Garden State got more expensive last year, with property taxes climbing by an average of 3.2%.

More than $33.3 billion in property tax revenue was collected in 2023, according to new data released by the Department of Community Affairs. That's an increase of more than a billion dollars from the year before.

New Jersey homeowners, on average, paid $9,803 in property taxes — a jump by more than $300.

Homeowners are paying over $10,000 in property taxes on average in eight of New Jersey's 21 counties. And of those eight counties, most of them are in North Jersey.

Nearly 69 cents of every dollar collected in property taxes went to fund New Jersey schools. Around 21 cents went to municipalities, while the remaining funds went to county spending.

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Find your town's average bill below 👇

Biggest property tax increases in 2023

The tax increases continue despite a 2% cap on year-over-year property tax increases in place since 2010. There are exceptions to cover growing pension costs, health benefits for employees, and the costs of large emergencies.

A vast majority of municipalities had their property taxes go up in 2023. Out of 564 municipalities, 400 of them saw increases greater than 2%.

Eleven municipalities had increases greater than 10%.

Washington Township (Burlington County) municipal building (Google Maps)
Washington Township (Burlington County) municipal building (Google Maps)

The crown for the biggest average property tax increase goes to Washington Township in Burlington County, which is home to around 700 people.

Average property taxes there rocketed up by 29.5% to $3,933 in 2023.

Biggest property tax cut in 2023

Only 42 municipalities cut their property taxes in 2023; that's less than the 71 municipalities that saw decreases in 2022.

Teterboro Airport sign (Google Maps)
Teterboro Airport sign (Google Maps)

Teterboro in Bergen County can pat itself on the back for a property tax cut of 9.8% in 2023. Its already relatively low bill of $2,338 in 2022 decreased to $2,108.

Only a few homeowners, however, will be able to enjoy that cut. Less than 100 people live in Teterboro, according to the 2020 census.

RELATED: 20 towns with the most expensive property tax bills

Average property taxes in New Jersey

These are the county and municipal average property taxes for 2023. The data comes from the New Jersey Department of Community Affairs.

Gallery Credit: New Jersey 101.5

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Restaurants that closed in New Jersey During 2023

Here are some of the restaurants that closed their doors around New Jersey in 2023 listed alphabetically. Did your favorite restaurant close in 2023? Contact reporter Dan Alexander at Dan.Alexander@townsquaremedia.com.

Gallery Credit: Dan Alexander

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