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Study: Hunterdon County residents get most bang for property tax buck

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Despite having some of the highest property taxes in the country, there are places in New Jersey where they are a bargain, according to a study by New York City-based financial technology company SmartAsset.

SmartAsset, in its third annual study on property taxes, ranked the value that New Jersey residents are getting from their property taxes using factors such as public school rating and crime rate, to produce an overall value index. SmartAsset measured schools by calculating the average math and reading/language arts proficiencies for all the school districts in the country. Within each state, these schools were then ranked between 1 and 10 (with 10 being the best) based on those average scores.

The full study can be found here.

Hunterdon County is the place where residents get the most bang for their buck when it comes to property taxes. While residents there pay an average of 2.26 percent in property taxes, its school system has a 10 rating, while there were 848 violent and property crimes per 100,000 residents last year.

The average property tax rate in New Jersey is 2.35 percent, and the average school rating is six. The average number of violent and property crimes per 100,000 people among all of its counties is 2,167.

Sussex County came in second place with a 2.56 percent property tax rate, an 8 school rating and 1,035 crimes committed per 100,000 people.

Mercer County, which includes portions of Trenton, Princeton and Hamilton Township, came in at No. 10 with an average property tax rate of 2.56 percent, an 8 school rating and 2,528 crimes committed per 100,000 people.

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Vince Calio

Vince Calio

Vince Calio covers health care and manufacturing for NJBIZ. You can contact him at vcalio@njbiz.com.

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