The NJ Counties Getting Most Value For Property Taxes: New Study

NEW JERSEY— It is well known that New Jersey homeowners pay some of the highest property taxes in the country, but which counties are using taxpayer dollars most wisely?

A study from SmartAsset, a financial technology company, sought to find the counties in New Jersey and around the country “where property tax dollars are being spent most effectively.”

The national effective property tax rate sits at an average of 0.99 percent, SmartAsset said. New Jersey has an average effective property tax rate of 2.26 percent, with rates in some counties more than 3 times the national average.

SmartAsset analyzed county-by-county data showing the average effective property tax rate, school quality (based on proficiency scores), and the change in property values throughout a five-year period.

Counties were assigned a score between 1 and 10, with 10 being the best, based on average math and reading/language arts proficiencies for every district.

Counties with the highest scores were deemed to be spending their tax dollars most wisely.

New Jersey’s top 10 counties were spread across the state, with Union County at No. 1 and Burlington County at No. 10.

Here are the top 10 counties in New Jersey according to the SmartAsset ranking.

1. Union County, with an overall index of 40.75.
   • Property tax rate of 0.64 percent, a school rating of 7, home value growth of 30.72 percent.
2. Bergen County, with an overall index of 29.98
   • Property tax rate of 0.73 percent, a school rating of 10, home value growth of 29.97 percent.
3. Essex County, with an overall index of 29.30
   • Property tax rate of 0.70 percent, a school rating of 5, home value growth of 26.76 percent.
4. Salem County, with an overall index of 17.99
   • Property tax rate of 3.17 percent, a school rating of 2, home value growth of 60.32 percent.
5. Cumberland County, with an overall index of 17.87
   • Property tax rate of 2.70 percent, a school rating of 1, home value growth of 56.63 percent.
6. Atlantic County, with an overall index of 16.01
   • Property tax rate of 2.86 percent, a school rating of 2, home value growth of 56.63 percent.
7. Mercer County, with an overall index of 13.99
   • Property tax rate of 2.68 percent, a school rating of 5, home value growth of 47.95 percent.
8. Warren County, with an overall index of 12.86
   • Property tax rate of 2.75 percent, a school rating of 6, home value growth of 45.55 percent.
9. Camden County, with an overall index of 12.31
   • Property tax rate of 3.53 percent, a school rating of 3, home value growth of 46.61 percent.
10. Burlington County, with an overall index of 11.05
    • Property tax rate of 2.7 percent, a school rating of 6, home value growth of 41.83 percent.

Data sources include Zillow, the U.S. Department of Education, the U.S. Census Bureau’s 2020 American Community Survey, and the National Association of Realtors, said SmartAsset.