These days, the New Jersey homebuyer is more focused than ever on whether or not they will be able to meet their property tax burden. New Jersey currently has the highest property taxes on average in the nation and it has become a real factor in determining whether or not first-time homebuyers and even current homeowners, can afford to live here.
The average property tax bill breakdown consists of public education costs as well public services rendered by the municipality and county. Although these are vital expenditures, it does little to soften the blow when it’s time for Garden State residents to pay the tax man.
In a recent breakdown of property tax costs by county, Camden County scored on the lower end — averaging $6,099 per year in 2014. With towns like Cherry Hill promising great quality of life with reasonable median home prices, Camden County might be an ideal alternative for the homeowner who wants to own a piece of New Jersey. At the higher end of the property tax ladder was Essex County with an average annual rate of $10,896 and at the lowest end was Cumberland County at $3,797.
There are many quality and affordable properties for anyone looking to make their home in New Jersey. When it comes time for you to purchase or sell your first home, make sure you get sound legal advice from an experienced real estate lawyer. You can be worried about property taxes but there are but other things you need to pay attention to so your family is protected. Choose a real estate lawyer with extensive knowledge of the area in which you’re looking. Informed guidance is critical in the real estate process. Let an experienced and qualified attorney help you through your transaction.
Joel R. Spivack, Esq. has been representing clients in the purchase and sale of their homes in South New Jersey for years. If you are looking to buy or sell real estate in New Jersey, Mr. Spivack is committed to helping you succeed.