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Calculate how much you'll pay in property taxes on your home, given your location and assessed home value. Compare your rate to the New Jersey and U.S. average.
Click on a state to find the most current information about property tax rates, exemptions, collection dates and assessments. How much you pay in property taxes each year can impact your home expenses. Use our property tax calculator to get an estimate by county.
- Property Taxes in New Jersey
- Transfer Taxes in New Jersey
- Capital Gains Tax in New Jersey
- Methodology
The average effective property tax rate in New Jersey is 2.47%, but this can vary quite a bit depending on which county the home is in.
Transfer tax is a blanket term used to describe fees charged by the state or local municipality when transferring property from one entity to another. New Jersey's current transfer tax rate is usually $2.00 to $6.05 per $500. So, for a house worth $535,982 — the median home price in the state — the transfer tax due will be $4,288. Some cities and c...
Capital gains are profits made from selling an asset. If you sell your property at a gain, you may owe taxes on the profits to the IRS and the state. Fortunately, there are ways to avoid paying taxes on your home sale profits.
The Clever team of researchers gathered data for property taxes, transfer taxes, and capital gains rules using publicly available information from government websites. Additionally, we utilized the following data: 1. Home values, list prices, and sale prices: Based on Zillowdata as of August 2024. 2. Transfer taxes and mortgage taxes: Based on publ...
Apr 29, 2024 · For a $535,982 home — the median value in New Jersey — you'd pay around $17,210. Typical seller closing costs in New Jersey include the title and closing service fees, owner's title insurance policy, real estate transfer tax, and recording fees on the closing date.
While the exact property tax rate you will pay will vary by county and is set by the local property tax assessor, you can use the free New Jersey Property Tax Estimator Tool to calculate your approximate yearly property tax based on median property tax rates across New Jersey.
Our New Jersey Property Tax Calculator can estimate your property taxes based on similar properties, and show you how your property tax burden compares to the average property tax on similar properties in New Jersey and across the entire United States.
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Feb 21, 2024 · Increases (and decreases) were all over the map. The average increase last year was 3.3%. The average New Jersey property-tax bill rose to $9,803 last year, according to the latest official data, a new record for a state already known for having some of the nation’s highest property levies.