The Impact Of High Taxes On Bergen County Residents

Bergen County Property Tax

It is no secret that Bergen County – The most populous county in the New Jersey  ( 905,000 residents) is also the one with the highest property taxes in the state. The median property tax figure in the county ( for 2012) was $9,232.

If you look at what are the areas with the highest property tax it is easy to spot the trend… the closer the town is to New York city the higher the taxes tend to be.

According to a survey prepared by the American Community Survey for 2009, Bergen County ranked third for the highest median real estate taxes.

The proximity to NYC is a huge driver of wealth flowing into this area. Despite the county’s wealth, it has not been immune to problems in the last 5 years of the recession.

According to county sources over 70 foreclosed homes were valued at over $1 Million.

Bergen county has some great educational systems, exemplified by the schools in Tenafly, Demarest, Closter, Haworth and Cresskill, which are a huge draw for the younger families who come to the area.

With close to 65%-70% of the tax bill allocated to support the school systems, many families see the reasoning of paying what is otherwise a very high tax bill.

Empty nesters, on the other hand, are moving out once their children are out of the house so as not to pay the high tax bill, and thus feeding the real estate market with new inventory.

Indisputably the quality of life in Bergen County is very good but also… very expensive.

To view property taxes in various towns in New Jersey click here