Millburn homeowners pay an average of $26,292 a year in property taxes, the second-highest bill in New Jersey.
The figure comes from a Patch analysis of municipal data published Wednesday, Aug. 26. Only Tavistock, a Camden County borough, carries a higher average bill at $38,387. Demarest, in Bergen County, follows Millburn at $26,108.
The ranking appeared alongside a SmartAsset study finding that a single adult needs $113,776 a year to live comfortably in New Jersey, making the state the 10th most expensive in the nation. That figure rose more than 4 percent from last year.
What drives the bills
New Jersey's average effective property tax rate stands at 1.77 percent, double the national average of 0.89 percent. The statewide median property tax bill is $9,910, meaning Millburn's average is nearly $16,400 above the midpoint.
Steven Pressman, emeritus professor at Monmouth University and part-time professor at the New School for Social Research, attributed the state's housing costs to proximity to New York City jobs, public transportation access and desirable geography.
"If you're putting all of your money into housing, there's just no money for even savings," Pressman told Patch.
Redfin data cited in the same report puts New Jersey's median home price at $584,000, about 32 percent above the national median of $447,000. Pressman estimates the national housing deficit at between 2 million and 4 million homes.
Relief programs and deadlines
Three state programs offer partial relief to eligible Millburn homeowners and renters. All share a filing deadline of Monday, Nov. 2.
ANCHOR: Homeowners 65 and older can receive up to $1,750. Homeowners under 65 earning $150,000 or less get up to $1,500; those earning $150,001 to $250,000 get up to $1,000. Renters under 65 earning up to $150,000 qualify for $450, and renters 65 and older qualify for up to $700. The state began mailing automatic confirmation letters to returning applicants under 65 on Monday, Aug. 10, according to the New Jersey Division of Taxation.
Stay NJ: Under the Fiscal Year 2027 Appropriations Act signed June 30, the program now limits eligibility to homeowners 65 and older with incomes of $200,000 or less. Maximum benefits are tiered: up to $6,500 for incomes under $100,000, up to $5,000 for $100,000 to $150,000, and up to $4,000 for $150,000 to $200,000. Benefits are reduced by any ANCHOR or Senior Freeze amounts received. Seniors must file the combined PAS-1 application, which covers ANCHOR, Senior Freeze and Stay NJ together.
Against a $26,292 average tax bill, even the maximum Stay NJ benefit of $6,500 covers roughly a quarter of the annual cost.
Residents can apply at propertytaxreliefapp.nj.gov before the Nov. 2 deadline.
