The tri-state area has some of the highest property taxes in the nation — but the burden varies dramatically by county and state. We analyzed assessment and tax data across 9.4 million properties to quantify the differences.
The Big Picture
New Jersey consistently has the highest effective property tax rates in the tri-state area. Several NJ counties see effective rates above 2.5% of market value. Connecticut follows, with most counties between 1.5-2.5%. New York City is actually the lowest for residential properties — despite high absolute dollar amounts — because market values are so high that effective rates stay below 1%.
Key Comparisons
- NJ Bergen County — high assessed values AND high tax rates create significant carrying costs for residential investors
- NYC Manhattan — high absolute taxes but low effective rate due to market values often exceeding $1M per unit
- CT Fairfield County — moderate rates but high assessments in the Gold Coast (Greenwich, Westport, Darien)
- NY suburban counties (Nassau, Suffolk, Westchester) — among the highest in the state, driven by school district funding
Why This Matters for Investment
Property taxes are the largest recurring cost for real estate investors after debt service. A 1% difference in effective tax rate on a $500,000 property is $5,000/year — enough to flip a deal from profitable to break-even.
RegWatch shows assessed values, market values, annual tax, effective rates, and exemptions for every property in our database. Search any address to see the full tax picture.