NJ Property Tax Calculator

New Jersey property taxes are calculated by multiplying your property's assessed value by the local tax rate set by your municipality and county. The assessed value is typically a percentage of the property's market value — often 100% in NJ, though this varies by municipality. Your total bill includes municipal, county, and school district levies, all combined into a single rate. The formula is: Annual Tax = Assessed Value × (Tax Rate / 100).

New Jersey consistently ranks among the highest property tax states in the country. The primary driver is that NJ funds a significant portion of public school costs through property taxes rather than state income or sales taxes. Additionally, NJ has over 560 municipalities, each maintaining its own government, police, and services — creating high per-capita costs. Dense development, strong public services, and proximity to NYC metro area also contribute to elevated assessed values and tax burdens.

New Jersey offers several programs that can lower your tax burden:

• Homestead Benefit Program — Rebates for homeowners earning under $150,000 (or $75,000 for seniors/disabled).
• Senior Freeze (PTR) — Freezes property taxes for seniors and disabled persons who meet income limits.
• Veterans Deduction — $250 annual deduction for honorably discharged veterans.
• Disabled Veterans — 100% total exemption for fully and permanently disabled veterans.
• Surviving Spouse — $250 deduction for surviving spouses of certain deceased individuals.

Contact your local tax assessor or visit the NJ Division of Taxation website to apply.

Market value is what your home would sell for on the open market — what a buyer and seller agree on. Assessed value is what your local tax assessor assigns to your property for tax purposes. In New Jersey, properties are supposed to be assessed at 100% of market value, but reassessments don't happen every year, so the two figures often diverge. The ratio of assessed to market value is called the assessment ratio. If you believe your assessment is too high, you have the right to appeal it to your county tax board within the annual deadline.

New Jersey property taxes are billed quarterly, with payments due on:

• February 1st (Q1 — covers November 1 – January 31)
• May 1st (Q2 — covers February 1 – April 30)
• August 1st (Q3 — covers May 1 – July 31)
• November 1st (Q4 — covers August 1 – October 31)

There is a standard 10-day grace period after each due date before penalties apply. If you have a mortgage, your lender typically collects property tax monthly through an escrow account and pays on your behalf. You can also pay online through your municipality's website or in person at the tax collector's office.