Property Taxes

It's confirmed that New Jersey has the highest property taxes in the country

We are talking about property taxes going up in New Jersey and the possibility of many towns seeing property taxes over the $10,000 mark on average per year.

Home improvements can make your home more livable and raise resale value but be warned: Many home improvements will raise your property taxes in New Jersey.

The size of the promised property tax credits more than doubled, from $700 to $1,500, for homeowners with incomes under $150,000.

Two-thirds of New Jerseyans said they would be willing to make an offer within three days of viewing a home, with 23% saying they would not have a problem making an offer immediately.

Nealy 80% of poll respondents said lowering property taxes should be a top priority in New Jersey. This view received majority support among all income brackets and across the political aisle.

Though lawmakers have expressed interest in restoring aid to municipalities that is diverted to the state, that's not in Gov. Phil Murphy's budget plan.

Gov. Phil Murphy proposes property tax rebates starting at $700 and growing to $1,150, including homes with incomes of up to $250,000. Renters get help, too.

The funding formula was approved in 2008 and upheld by the courts, though it was only followed for a year. A task force could examine it for updates.

Gov. Phil Murphy said at his inaugural Tuesday that his second-term goals include making New Jersey “the Opportunity State” and lowering property taxes by increasing state aid to schools.