Georgia vs New Jersey
Property Tax Comparison: Georgia vs. New Jersey
Both Georgia and New Jersey levy taxes on real‑property, but the effective rates and resulting dollar amounts differ substantially. The data below are taken from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates) and reflect statewide medians.
Key Metrics (2023 ACS)
| Metric | Georgia | New Jersey |
|---|---|---|
| Effective property‑tax rate | 0.81 % | 2.23 % |
| Median home value | $272,900 | $427,600 |
| Median annual property tax | $2,214 | $9,541 |
| Tax on a $250,000 home | $2,028 | $5,578 |
| Tax on a $500,000 home | $4,057 | $11,157 |
| Median household income | $74,664 | $101,050 |
Sources: According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates).
Who Has the Lower Property‑Tax Burden?
- Winner (lower tax rate): Georgia
- Rate difference: 1.42 percentage points (Georgia’s rate is about 63.6 % lower than New Jersey’s).
- Dollar‑amount difference on a $250 k home: $3,550 less tax in Georgia.
- Dollar‑amount difference on a $500 k home: $7,100 less tax in Georgia.
Why Georgia wins: The effective property‑tax rate in Georgia (0.81 %) is less than half of New Jersey’s rate (2.23 %). Because the rate is applied to the assessed value of the property, the lower percentage translates into lower annual taxes across comparable home price points.
Who Might Benefit Most from This Comparison?
| Audience | Relevance of the Comparison |
|---|---|
| Current or prospective homeowners | Understanding the tax component of housing costs helps in budgeting and location decisions. |
| Retirees | Property taxes affect fixed‑income budgets; a lower rate may be preferable for retirees on limited income. |
| Real‑estate investors | Tax rates influence cash‑flow projections and net return calculations. |
| Policy analysts | The contrast illustrates how state tax structures can vary widely even when median incomes differ. |
The comparison is primarily useful for anyone whose decision to purchase, retain, or invest in residential property depends on the relative cost of property taxes.
Additional Resources
- Detailed overview of Georgia’s property‑tax system: Georgia property tax
- Detailed overview of New Jersey’s property‑tax system: New Jersey property tax
All figures are based on the most recent ACS estimates and represent statewide medians; local variations may exist.
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.