These 71 towns in NJ cut — yes, cut! — property taxes
While historic property tax relief for New Jersey seniors is now years away, there are parts of the state that already got some room to breathe. See the list below 👇
The StayNJ program will cut property taxes for Garden State residents 65 and older earning $500,000 or less by 50% with a maximum benefit of $6,500. But Gov. Phil Murphy announced last week that the program won't take effect until 2026.
That's a tough pill to swallow in a state that saw its average property tax bill reach a record high of $9,490 in 2022. And according to a WalletHub survey, New Jersey has the highest average property taxes in the United States. Connecticut comes in at a distant second with an average bill of $6,153.
Fortunately, there are dozens of towns — 71 of them — that already saw their property tax bills go down last year. A lucky few saw drops that add up to hundreds of dollars.
These towns actually cut their property taxes in 2022
And for seniors who may want to downsize until the StayNJ program finally takes effect, here are the towns with the lowest average property taxes.