The rate in context
On a $400,000 home, 1.88% means roughly $7,520 per year in property tax, escrowed monthly, so it lands directly in your payment and your debt-to-income ratio.
Exemptions and notes
The nation's highest effective rate, driven by more than 500 school districts funded locally; ANCHOR rebates and the Senior Freeze program offer relief.
Sources: Tax Foundation 2026 (2024 ACS); NJ Division of Taxation (P.L. 2025, c.69). County-level rates vary; your county page has local detail.
Counties in New Jersey
FAQ
What is the average property tax rate in New Jersey?
The average effective property tax rate in New Jersey is about 1.88%, per Tax Foundation 2026 (2024 ACS); NJ Division of Taxation (P.L. 2025, c.69). Individual counties vary above and below that average.
How do New Jersey property taxes affect my mortgage?
Taxes are escrowed into your monthly payment, so a higher rate directly reduces how much house you qualify for. The nation's highest effective rate, driven by more than 500 school districts funded locally; ANCHOR rebates and the Senior Freeze program offer relief.