Connecticut vs New Jersey
Connecticut
Property‑Tax Comparison: Connecticut vs. New Jersey
Intro
Both Connecticut and New Jersey rank among the states with the highest property‑tax burdens in the United States. Using the most recent data from the U.S. Census Bureau’s 2023 American Community Survey (5‑year estimates), this article presents a side‑by‑side comparison of key property‑tax metrics, highlights which state has the lower effective tax rate, and identifies the types of residents for whom the differences are most relevant.
Side‑by‑Side Comparison
| Metric | Connecticut | New Jersey |
|---|---|---|
| Effective property‑tax rate | 1.92 % | 2.23 % |
| Median home value | $343,200 | $427,600 |
| Median annual property tax | $6,575 | $9,541 |
| Tax on a $250,000 home | $4,789 | $5,578 |
| Tax on a $500,000 home | $9,579 | $11,157 |
| Median household income | $93,760 | $101,050 |
All figures are taken from the U.S. Census Bureau’s 2023 American Community Survey (5‑year estimates).
Which State “Wins” on Property Taxes?
Winner (lower effective tax rate): Connecticut
- Rate difference: 0.32 percentage points, which equals a 14.14 % lower effective rate than New Jersey.
- Annual tax difference on a $250,000 home: $789 less in Connecticut.
- Annual tax difference on a $500,000 home: $1,578 less in Connecticut.
The lower effective tax rate in Connecticut results from both a smaller nominal rate (1.92 % vs. 2.23 %) and a lower median home value, which together produce lower median and per‑home‑value tax amounts.
Who Benefits Most from This Comparison?
| Audience | Relevance of the Comparison |
|---|---|
| Current homeowners | Understanding the ongoing annual tax liability helps in budgeting and evaluating the relative cost of owning comparable properties in each state. |
| Prospective homebuyers | The effective tax rate and median tax amounts give a clear picture of the fiscal impact of purchasing a home at typical price points ($250 k–$500 k). |
| Retirees and fixed‑income households | Lower property taxes can reduce the overall cost of living, making Connecticut potentially more affordable for those on a fixed income, though other cost‑of‑living factors should also be considered. |
| Policy analysts & researchers | The data provide a baseline for assessing how property‑tax structures differ between neighboring high‑tax states. |
Sources
- According to the U.S. Census Bureau’s 2023 American Community Survey (5‑year estimates), the effective property‑tax rates, median home values, and household incomes are as listed above.
- Based on the most recent ACS estimates, the calculated tax differences reflect the simple application of each state’s effective rate to the specified home values.
For more detailed information on each state’s property‑tax system, see the following pages:
Explore More Comparisons
Discover how property taxes compare across all states in our comprehensive comparison guide.
Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.