Here's What Your 2021 Property Tax Bill Could Cost In Ridgewood

RIDGEWOOD, NJ — Property taxes in Ridgewood rose from 2019 to 2020, following a state trend which positions New Jersey’s property taxes as the highest in the nation.

But Ridgewood residents aren’t alone in paying more. Even as state officials have sought to provide financial relief during the COVID crisis, the vast majority of taxpayers will still have to dig deeper into their pockets this year.

A recent Patch report compiled a list of all New Jersey towns and their average annual property tax bills, from highest to lowest. The report also included the percentage tax bill increases and decreases from 2019 to 2020. Read more: Every NJ Town's Average Property Tax Bill In New 2021 List

The data released to Patch on Monday comes from the state Department of Community Affairs. On average, the state's property taxes rose 1 percent, from $8,953 to $9,112, between 2019 and 2020. It was lower than the 2 percent cap former Gov. Chris Christie put into effect in 2011, according to the analysis.

By contrast, between 2018 and 2019, the average homeowner's tax bill rose from $8,767 to $8,953, an increase of 2.12 percent.

In Ridgewood, the average property owner pays $18,506, an increase of 1.49 percent. Only 16 other communities have higher average tax bills.

Tax rate stability is something the Murphy administration is pointing to as an achievement.

The tax data tables show that tax ratables rose 2 percent statewide since 20219, an increase above the five- and 10-year historical averages, with total ratables now at $1.118 trillion. The majority of municipalities in the state had average residential property tax decreases or increases under 2 percent.

"We're delivering on our promise to provide property tax stability while restoring New Jersey's fiscal standing and growing our economy," Gov. Phil Murphy has said. "Statewide property values have grown more in the first two years of my administration than at any point since the Great Recession. That's what we call progress."

With reporting from Tom Davis.

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