The average property tax bill in six North Jersey towns rose to over $10,000, making it impossible for residents with bills higher than that to deduct their entire tax bill from their federal taxes.
That’s thanks to a $10,000 Trump-era cap on deducting state and local taxes from federal tax returns.
Between 2021 and 2022, the average property tax bill crept over $10,000 for six municipalities, according to figures from the state Department of Community Affairs released on Monday.
The state and local tax break assures residents essentially aren’t double-taxed, according Marc Pfeiffer, a senior policy fellow at Rutgers University’s Bloustein School of Planning and Public Policy, in an interview last year.
Here’s the breakdown of those six towns:
In 2021, the average property tax bill was $9,775. That went up to $10,218.69 in 2022.
The average property tax bill was $9,922 in 2021. It was $10,125.69 in 2022.
Parsippany-Troy Hills Township
The average resident paid $9,651 in 2021 on property taxes, and $10,092.13 in 2022.
Little Ferry Borough
The average property tax bill was $9,947 2021. It was $10,074.84 in 2022.
The average property tax bill was $9,934 in 2021. It went up to $10,053.43 in 2022.
The average property taxes bill was $9,590 in 2021. It was $10,044.79 in 2022.
Marc Pfeiffer, the assistant director at the Bloustein Local Government Research Center