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NJ Property Tax

3 min read

3 min read

Real property tax systems require owners of land and buildings to pay an amount of money to the state or local government based on the value of their land and buildings.

While federal tax rates are the same across the board, state taxes are another story. In some states, including New Jersey, in addition to income state taxes, any individual who owns real property is subject to state real property taxes.

Within the U.S., state real property taxes vary. For instance, your New Jersey real property tax rates will differ from those in a different state, and even from county to county within New Jersey.

Who Owes NJ Real Property Taxes?

If you own real property in New Jersey, you will be required to pay taxes on it. There is no minimum or maximum amount of taxes to pay on your real property in New Jersey to pay real property taxes. Whether you have a $50,000 or $5,000,000 house, you will owe real property taxes in New Jersey.

What are NJ Property Tax Rates?

New Jersey tax rates vary by county. You can view each county’s posted tax rates on this interactive map.

What are New Jersey Real Property Taxes Used For?

property taxes

The money collected by New Jersey is used for multiple public services throughout the state. It could be used for:

  • First responders and other law enforcement
  • General government services
  • Local levies
  • Municipal infrastructure and land construction or improvements
  • Municipal employees’ pay
  • Resident services like garbage pickup
  • Recreational services
  • Protective services

How Do You Pay New Jersey Real Property Tax?

If you pay your mortgage, it’s likely you are already paying your New Jersey real property taxes. A standard mortgage payment usually includes:

  • Principal
  • Interest
  • Homeowner’s insurance
  • New Jersey real property taxes

Look at your current mortgage statement and determine if your New Jersey real property taxes are paid as part of your monthly mortgage. It will likely be listed as a line item on the statement.

View the NJ Division of Taxation website for more information on how to pay your real property taxes.

When Do You Have to Pay New Jersey Real property Taxes?

Real property taxes in New Jersey are due on February 1, May 1, August 1, and November 1. Real property tax bills are mailed once a year in July and contain four quarterly payments.

Where to go for New Jersey Real property Tax Help

Real property taxes can be confusing. Gauging how the real property tax is calculated and the determining the proper amount is important, otherwise, you may be paying too much, too little, or not at all. Beyond this, there are many federal real estate tax deductions you can take. But to determine how much the deduction is, who gets it, and when can be tricky.

If you’re looking for additional support with your real property tax questions, look no further than H&R Block Virtual. We’ll pair you with a tax pro with state-specific expertise. You can have your taxes done by a real tax pro without visiting an office.

Prefer a different way to file? No problem – you can find New Jersey state tax expertise with all of our ways to file taxes.

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