TRENTON – New Jersey broke its own record again. In 2017, the state set a record for the highest average property taxes in the nation.
In 2018, it held on to the dubious honor with another increase. The 2018 average property taxes in the Garden State were $8,767, according to data released by the Department of Community Affairs.
In Cape May County, the average property tax bill rose by $153 last year, double the state’s increase of $77. The largest increase in the county, at $638, was in Stone Harbor where a borough-wide reevaluation had just been completed.
Following Stone Harbor, Avalon property owners also saw a reassessment-related increase on the average tax bill of $332. The City of Cape May was third, seeing its increase in the average tax rise by $325.
The calendar year tax rates in the county ranged from a high of $2.497 per $100 of valuation in Wildwood to a low of $0.486 in Avalon. For 2018, the net valuation base in Wildwood was $1.4 billion, and in Avalon it was $8.9 billion.
To contact Vince Conti, email vconti@cmcherald.com.
North Cape May – Hello all my Liberal friends out there in Spout off land! I hope you all saw the 2 time President Donald Trump is Time magazines "Person of the year"! and he adorns the cover. No, NOT Joe…
