If you are comparing homes across Middlesex County, you have likely noticed that property taxes and monthly carry costs can vary a lot from one township to the next. That makes budgeting tricky when you are deciding between Edison, Monroe, or Metuchen. You deserve a clear, apples-to-apples way to see what you will pay and why. In this guide, you will learn how New Jersey property taxes work, what the 2024 town-by-town effective rates look like, and how to estimate your full monthly carry cost with confidence. Let’s dive in.
How New Jersey property taxes work
New Jersey taxes real estate based on value and local budgets. Your bill is generally calculated as assessed value multiplied by the local tax rate. The state also explains how assessments and equalization work so you can understand the numbers on your bill in plain terms. You can review the basics on the Division of Taxation’s page on how property is valued and taxed for context and definitions.
- General tax rate: the rate printed on your bill, applied to assessed value.
- Effective tax rate: a normalized rate that estimates tax burden relative to full market value. Use this for cross-town comparisons.
For official town data, the Division of Taxation publishes annual municipal tables with both general and effective rates.
How NJ property tax is valued and calculated
2024 General and Effective Tax Rates by municipality
Middlesex County snapshot: 2024 effective rates
Countywide, typical annual property taxes are often reported near about $9,400. Your exact number will vary by town and price point, so always check the municipal table for the year you are buying or selling.
- Edison Township: effective rate 2.086
- Woodbridge Township: effective rate 2.471
- East Brunswick Township: effective rate 2.400
- Piscataway Township: effective rate 1.801
- South Brunswick Township: effective rate 1.963
- Monroe Township: effective rate 1.617
- New Brunswick City: effective rate 2.141
- Plainsboro Township: effective rate 2.302
- Metuchen Borough: effective rate 2.462
- North Brunswick Township: effective rate 2.544
All figures above are from the New Jersey Division of Taxation’s 2024 municipal table. Effective rates help you compare towns fairly, since assessed values can be at different levels. For a quick county context on tax bills and typical values, see PropertyShark’s Middlesex County overview.
County median tax and typical home value context
Estimate your annual town tax in minutes
A quick way to estimate property tax across towns is to multiply your target home price by the town’s effective rate.
- Example: If a home is $600,000 in a town with a 2.00 percent effective rate, annual taxes are roughly $12,000, or about $1,000 per month.
- For precision, pull the latest effective rate from the state’s 2024 table and confirm the most recent bill with the local tax collector.
What carrying costs include
Carrying costs are the ongoing expenses you pay to own the home. In New Jersey, taxes are a major part of that monthly number.
Recurring monthly costs for buyers
- Mortgage principal and interest
- Property taxes
- Homeowners insurance, and flood or umbrella if required
- Private mortgage insurance if your down payment is under 20 percent
- HOA or condo fees if applicable
- Utilities and routine maintenance
- Reserve for major repairs. Many owners set aside about 1 to 2 percent of home value per year as a planning buffer.
Short-term costs for sellers
- Mortgage payments, utilities, lawn and regular upkeep until closing
- Staging and preparation costs
- Closing costs. Seller side expenses in New Jersey commonly total several percent of the sale price when you include commission and transaction fees. A practical overview of typical NJ closing costs can help you plan.
Typical NJ seller closing costs overview
How property taxes are prorated at closing
In most Middlesex transactions, property taxes are prorated at closing. You pay taxes for the time you owned the home up to the closing date, and the buyer pays for the period after. If bills are paid in advance, credits are adjusted on the settlement statement. Exact mechanics follow your contract and local practice.
Short, plain-English overview of NJ proration at closing
A worked example of monthly carry cost
Here is a simple, county-typical example to show scale. This is not a quote, just a planning tool.
- Home price: $411,900 (a county-typical value used for illustration)
- Effective tax rate: about 2.29 percent county-typical for quick math
- Down payment: 20 percent
- 30-year fixed mortgage rate: about 6.3 percent, based on a recent Freddie Mac weekly average
Estimated monthly breakdown:
- Principal and interest on a $329,520 loan: about $2,040
- Property taxes: about $786 per month (annual about $9,430)
- Homeowners insurance: about $100 per month placeholder
- Maintenance reserve: about $343 per month using a 1 percent yearly rule of thumb
Estimated total monthly carry cost: about $3,269. Your number will change with price, town effective rate, down payment, and loan terms.
Freddie Mac weekly rate context
County-typical values used for this illustration
Ways to manage your tax bill
- Review state relief programs. New Jersey offers ANCHOR for homeowners and renters, and the Senior Freeze program for eligible seniors and disabled residents. Eligibility, income limits, and filing windows change by year, so check the program pages before you apply.
- Watch for revaluations. Townwide revaluations and local budgets can change tax bills. Following municipal updates can help you plan.
- Consider an appeal if your assessment seems high. There are defined windows and procedures through the County Board of Taxation.
ANCHOR property tax relief program
Senior Freeze (Property Tax Reimbursement)
The bottom line for Middlesex buyers and sellers
If you compare homes across Edison, Monroe, Metuchen, or Plainsboro, use each town’s effective rate to estimate taxes, then add mortgage, insurance, and realistic maintenance to see your full monthly picture. A clear plan reduces surprises and helps you bid and price with confidence.
Have questions on a specific property or town-by-town budgeting? Reach out to Daniel Chamoun, Realtor for a data-informed consultation tailored to your goals.
FAQs
How do I compare property taxes across Middlesex towns?
- Use the New Jersey Division of Taxation’s municipal table and look at the 2024 effective rates, then multiply your target price by the town’s rate to estimate the annual bill. See the 2024 table.
What is the difference between general and effective tax rates in NJ?
- The general rate is applied to assessed value on your bill, while the effective rate normalizes for market value so you can compare towns fairly.
How are New Jersey property taxes handled at closing for buyers and sellers?
- Taxes are usually prorated so the seller pays up to closing and the buyer pays after. Credits are reconciled on the settlement statement if bills are prepaid or not yet due.
What programs can lower my New Jersey property tax burden?
- ANCHOR and Senior Freeze are two major programs, with eligibility that varies by income, age, and filing year. Check current rules and deadlines on the state’s program pages.
