NJ Property Tax Relief—A Relief for Your Wallet
Property tax relief comes in different shapes and forms in New Jersey—it can be a tax freeze, a deduction, or a benefit program. NJ also provides various property tax exemptions you can apply for to lower your taxes.
This article will go over all NJ property tax relief programs and recommend a personalized guide to help you keep your NJ property tax low.
Why Is Property Tax So High in NJ, and Why Do I Pay for It?
Unlike Hawaii, Alabama, and Colorado, which are states with the lowest property taxes, New Jersey has one of the highest tax rates in the country—2.19%. To put this in perspective, the average NJ citizen paid approximately $8,861 in taxes in 2019.
The main reasons behind the steep rates are high property values and education costs. Besides education, property taxes in NJ also fund:
- Maintenance services
- Community services
- Police departments
- County and municipal expenses
What Are New Jersey Property Tax Relief Programs?
As one of the most expensive states to live in, NJ citizens may need help paying property taxes to keep up with the high cost of living. One way of saving a penny or two is by applying for NJ property tax relief programs, such as:
Do I Qualify for NJ Tax Relief Programs?
Check out an overview of New Jersey property tax relief programs in the table below:
New Jersey Property Tax Reduction Through Exemptions and Deductions
Aside from tax relief programs, you may be eligible for property tax exemptions in NJ. There are four main tax exemptions we will get into in detail:
- Veteran property tax deduction
- Active military service property tax deferment
- 100% disabled veteran property tax exemption
- Property tax deduction for senior citizens and disabled persons
Veteran Property Tax Deduction
To qualify for a veteran property tax deduction, you need to meet the following criteria:
- Being a homeowner
- Being a legal resident of New Jersey
- Having active duty service in the U.S. Armed Forces with an honorable discharge
A surviving spouse, civil union, or domestic partner may also be eligible for this exemption.
Active Military Service Property Tax Deferment
As a serviceperson, deployed or mobilized for active service in time of war, you may qualify for the active military service property tax deferment. This is essentially a postponement of your tax bill. You can authorize someone to apply instead of you. As soon as your deployment is finished, you have 90 days to pay your property taxes.
100% Disabled Veteran Property Tax Exemption
To apply for the 100% disabled veteran property tax exemption, you have to:
- Be honorably discharged
- Be a legal New Jersey resident
- Have active duty service in the U.S. Armed Forces
- Own and occupy your property as your primary residence
Spouses may also apply.
Property Tax Deduction for Senior Citizens and Disabled Persons
You may qualify for an annual $250 property tax deduction for senior citizens and people with disabilities if you:
- Own and occupy your home
- Don’t exceed the income threshold
- Have been a legal resident of New Jersey for at least one year
You may also be eligible when your spouse passes away.
Other programs also include:
- Historic site property tax exemption
- Five-year exemption and abatement
- Urban enterprise zone property tax abatement
- Non-profit organization’s property tax exemption
- Renewable energy system property tax exemption
- Environmental opportunity zone property tax exemption
- Non-residential development fee certification/exemption
- Automatic fire suppression system property tax exemption
NJ Property Tax Reduction Made Easy With DoNotPay
If your head is already spinning from all the tax relief programs and exemptions you may qualify for, and the thought of collecting the necessary paperwork is giving you a headache, we have a solution! DoNotPay can comprise a detailed property tax guide that will help you:
- Understand potential property tax exemptions you qualify for
- Go through your property tax assessment like a pro (read more on NJ tax assessments)
- Fill in an appeal form to appeal your tax assessment
With our guide, dealing with exemptions and appeals will be a piece of cake!
Reduce your property taxes by getting our guide in the following way:
- Open DoNotPay in any web browser
- Navigate to the Property Tax feature
- Answer a few questions about yourself and your property
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