The average property tax bill in New Jersey rose by $141 dollars last year, and now totals a record high of $8,690, according to figures released Friday by the state Department of Community Affairs.
The overall percentage increase from 2016 to 2017 was an estimated 1.65 percent, making last year the first time since 2013 that the average increase fell below the state’s 2 percent cap on annual property-tax levy hikes. The percentage increase for 2017 would have been a little higher, at 1.82 percent, if it weren’t for a Payment In Lieu of Taxes deal that was reached with casino operators in Atlantic City last year, according to state officials.
The average school tax bill accounted for the largest portion of the typical property-tax bill in New Jersey last year, at $4,564. Municipal government tax bills were $2,552 on average, while the portion related to county taxes totaled $1,574 in 2017.