Real Estate
Property Taxes Up Almost $500 In Ridgewood: See Latest Data
Property taxes in Ridgewood have risen more than 2 percent since last year, according to a recent report from the state.
![Every year, the department releases property tax statistics for each town and city in New Jersey, including Ridgewood. There were 565 municipalities on this year's list.](https://patch.com/img/cdn20/shutterstock/25310363/20220202/102501/styles/patch_image/public/shutterstock-1081122278___02100623488.jpg)
RIDGEWOOD, NJ — Property taxes in Ridgewood have risen more than 2 percent since last year, according to a recent report from the state Department of Community Affairs.
Ridgewood had the 16th highest property taxes out of 565 municipalities on this year's list, according to the report. Last year, Ridgewood was ranked at 17.
Every year, the department releases property tax statistics for each town and city in New Jersey, including Ridgewood.
Find out what's happening in Ridgewood-Glen Rockwith free, real-time updates from Patch.
Read More: See How Every NJ Towns Ranks For Property Taxes On New List
The average residential property tax in Ridgewood in 2021 was $18,998 for a home valued at $701,664. That’s a $492 increase from 2020 – a difference of 2.66 percent.
Find out what's happening in Ridgewood-Glen Rockwith free, real-time updates from Patch.
Property taxes in New Jersey are made up of three parts: school, municipal and county. Here's how that broke down in Ridgewood last year:
- School – 65.1%
- Municipal – 24.1%
- County – 10.8%
As a state, New Jersey routinely ranks among the highest in the nation when it comes to property taxes. Last year, four of the seven counties with the highest median payments in the U.S. were located in New Jersey. Taxes and home values have gone up steadily throughout the state over the past decade, regardless of what political party is in power.
When former Gov. Chris Christie and the state Legislature reached a historic deal for a 2 percent cap in 2011, the average property tax bill in New Jersey was at $7,759 for a home valued at $299,014, not including credits or deductions. By the time Gov. Phil Murphy began his first term in 2018, the average property tax payment had risen by 13 percent.
The numbers have continued to rise during Murphy’s tenure. According to the latest figures, the average property tax in New Jersey was $9,284 for a home valued at $335,623 in 2021, not including credits and deductions. Those numbers were up 1.9 percent from 2020, when they stood at $9,112 for a home valued at $330,578.
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