Are you considering a move to New Jersey but worried about the high property taxes? Don’t worry, we’ve got you covered. As a Realtor with years of experience in the state, I’ve compiled a list of five secret towns that offer the best bang for your buck.
1. Saddle River
First up, Saddle River. This picturesque town in Northern Bergen County boasts an excellent school district and gorgeous homes, with an average home price of $2.2 million. But what sets Saddle River apart is its property tax rate of only .994, which is lower than it was five years ago. That means you get more space for your money, with an average lot size of 2 acres. Compared to nearby Ramsey, where taxes are almost triple the amount, Saddle River is a tax savings gem.
Next on the list is Mountainside, a small town in Union County with a busy business district and a small-town feel. While it doesn’t have its own train station, the Westfield station is only a few minutes away, making it a convenient location for commuters. The average house price in Mountainside is just under $700,000, making it the least expensive on our list. What’s more, its tax rate of 1.997% is lower than many of the neighboring towns that get more attention.
Montvale is another hidden gem in Bergen County that offers a great entry price point for homebuyers. With an average home value of $750,000, you can find a 4 bed, 2.5 bath cape cod or colonial built in the 70s, if you can find it. While inventory can be tight in this small town, it also boasts large townhome communities that make it attractive to first-time buyers. With a tax rate of 2.47%, it’s pretty average for Bergen County, but the town’s great schools, cafes, and restaurants make it a bargain in our opinion.
4. Mountain Lakes
If you’re looking for a family-friendly town with excellent schools, Mountain Lakes in Morris County is an excellent option. While it’s a bit further west, it’s a top choice for families with young children, thanks to its excellent school district. While it may not be the best choice for road bikers, its small-town charm and beautiful lakes more than make up for it. With an average home price of $1.2 million and a tax rate of 2.195%, it’s still a great value for those looking to settle down in New Jersey.
Finally, for those who want to be close to the beach, Rumson in Monmouth County is a great option. While it has a reputation for being expensive, it’s actually one of the few coastal towns in New Jersey with a relatively low tax rate of 1.387%. With an average home price of $1.6 million, it’s certainly not cheap, but for those who want to enjoy the coastal lifestyle without breaking the bank, Rumson is a great choice. If you’d like to check out homes for sale in Rumson, click here.
In conclusion, New Jersey may have high property taxes, but there are plenty of hidden gems that offer a great value for your money. From Saddle River to Rumson, these five towns are worth considering if you’re looking to buy a home in the Garden State. As always, it’s important to consult with a licensed professional when it comes to taxes and tax accounting decisions.