Wow! These New Jersey towns actually reduced property taxes

💲 New Jersey pays the highest property taxes in the nation

💲 Most NJ towns increased rates again last year

⤵ Here are the NJ municipalities that actually lowered property taxes

New Jersey is infamous for high taxes. When it comes to property taxes, we are a solid number one in the United States.

In 2023, the average property tax bill topped $9,800. The average increase statewide was 3.2%.

The biggest increase in taxes for 2023 came in Burlington County's Washington Township, where residents were hit with an increase of 29.5%.

Not all towns increased taxes in New Jersey

There are 564 municipalities in New Jersey and while the vast majority increased property taxes for their residents in 2023, 44 municipalities actually reduced their property tax burden.

The decreases ranged from less than 1% to nearly 10%.

Taxpayers in Bergen County's Teterboro saw the biggest property tax reduction at 9.81% for an average property tax bill of $2,338 in 2023.

Canva/Townsquare Media illustration

What do the towns on the list have in common?

Most are small.

Generally, the towns with the smallest population saw some of the biggest property tax decreases.

Less population means less money is spent providing services. There is also a greater possibility of sharing services with neighboring towns which can also keep government costs lower.

The top 3 towns with the biggest decreases all had among the state's smallest populations.

Teterboro has a population of just 61 people.

Loch Arbor, in Monmouth County, has a population of about 200. They reduced property taxes 8.17% to an average of $12,042.

Sussex County's Walpack Township is among the smallest municipalities in New Jersey with fewer than 10 people. Property taxes among the handful of residents were reduced 7.74%. Walpack already has the lowest property tax in New Jersey with an average bill of less than $500.

Keep scrolling to see all the towns in New Jersey that reduced property taxes for residents in 2023.

New Jersey towns that cut their property taxes last year

In 2023, the average property tax bill declined in 44 municipalities in New Jersey. The rankings, listed from the smallest percentage decrease to the largest decrease, is based on recent state Department of Community Affairs analyzed by New Jersey 101.5.

Gallery Credit: New Jersey 101.5

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