Growth in property taxes in New Jersey slowed last year, with average taxes going up by 3.4 percent – the lowest rate of increase in recent years, according to state figures posted today. Property taxes averaged $7,281 last year, up about $200, or 3.4 percent over 2008, according to state Department of Community Affairs figures. The tax growth came at a time when there was virtually no inflation in the Consumer Price Index, a government guide that keeps track of a number of goods from food to fuel. In the Northeast region, the inflation rate was 0.016 percent from 2008 through 2009.
The property tax growth compares with a 3.7 percent rise in 2008 and a 5.4 percent increase in 2007, according to state figures.
From 2004 through last year, property taxes grew by 29.6 percent.
Many recent polls have indicated that property taxes are the biggest issue in New Jersey.
Property taxes in Monmouth and Ocean counties increased last year by less than half the statewide rate, according to state figures.
In Monmouth County, average property taxes increased from $7,564 in 2008 to $7,670 last year, or 1.4 percent.
In Ocean County, average taxes also rose by 1.4 percent – from $4,943 in 2008 to $5,012 last year, according to state figures. APP