Benjamin Franklin, famously stated, "In this world
nothing can be said to be certain,
except death and taxes."
As a Maplewood resident we all believe our property taxes to
be "too high," and even
onerous for many of our current residents, let alone
negatively impacting potential
buyers , as it pertains to affordability.
Well, this week, I read an article: "Highest
Property Taxes in NJ: 18 Towns Where the
"Average" Annual Bill Is Over $20k, written by
Michelle Rotuno-Johnson and published
3/18/25.
Excerpting from her article, here are the Top 5 Towns paying
the highest average
Property Tax:
- Tavistock
Borough, Camden: Average residential property value of $2,640,533
and average annual property taxes
of $37,908.
- Millburn
Township, Essex: Average residential property value of $1,282,294
and average annual property taxes
of $25,407.
- Demarest
Borough, Bergen: Average residential property value of $809,319
and average annual property taxes
of $24,736.
- Mantoloking
Borough, Ocean: Average residential property value of $2,849,298
and average annual property taxes
of $24,422.
- Tenafly
Borough, Bergen: Average residential property value of $839,028
and average annual property taxes
of $23,833.
But, I don’t look at the above in the same way as the author,
because $20,000 in taxes relative to a $500,000 average residential property
value is far more aggressive and financially cumbersome when compared to the
same $20,000 in taxes someone might be paying relative to an average property
value that is 2 to 3 times that value.
So, I went back and created the below chart to show the actual
tax rates as they calculate compared to the property value*, here is the entirety
of Essex County, and I’m happy to report that Maplewood was actually one of the
lower taxed towns, percentage-wise:
*The above data pulled from Department of Community
Affairs from the Official Site of The State of New Jersey-- https://www.nj.gov/dca/dlgs/resources/Property_Tax_info.shtml
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