From the Star Ledger:
The already steep property tax bill for New Jersey residents jumped again in 2015, topping $8,300 for the first time and increasing at the fastest rate since 2011.
The average residential bill rose from $8,161 in 2014 to $8,353 in 2015 — a 2.4 percent hike, according to annual data released Friday afternoon by the state’s Department of Community Affairs.
The state aggressively tightened the cap on local property tax hikes in 2011 after property taxes were rapidly rising for several years. However, the data showed the rate of increase in 2015 was higher than the previous three years.
For homeowners, the $191 average increase comes on top of what were already the highest real estate taxes in the country. Property taxes consistently rank New Jerseyan’s top concern.
The real estate website Zillow looked at median property taxes across the U.S. last year and found that seven of the 10 counties with the highest property taxes — Bergen, Essex, Passaic, Union, Morris, Hudson and Hunterdon — are in New Jersey. The remaining three were in New York.
Christie boasted in his January State of the State address that reforms he and the Legislature put in place helped cut the average tax bill increase under Corzine to 1.9 percent during his own tenure.
“We could do even better,” he said.
Of the 565 municipalities in New Jersey, taxes decreased in about 11 percent. Increases were less than 1 percent in another 9 percent, according to the state, which also noted that adjusted for inflation, the statewide hike was 2.1 percent.
Setting aside Atlantic City and Paterson, which lost nearly a third of its assessed property value after a revaluation, the statewide increase would have been 1.7 percent, officials say.