New Jersey variant. This is a New Jersey-specific version of the Workers Comp Cost Estimator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Workers Comp Cost Estimator.
Workers' compensation premiums in New Jersey are priced per $100 of payroll, by job classification. On a $97,126 salary at an illustrative $1.00 rate, the annual premium is about $971.
How New Jersey workers' comp is priced
Premium = (payroll ÷ 100) × class rate × experience modifier. Clerical roles carry low rates; construction and trucking carry much higher ones.
New Jersey sets its own rules and rates. The calculator above lets you enter your real payroll, class rate, and mod factor for an accurate New Jersey estimate.
About taxes and housing in New Jersey
New Jersey uses a graduated income tax with a top marginal rate above 10% on the highest earners.
New Jersey has the highest effective property tax rate in the United States, near 2.5%, with median home values exceeding $500,000.
New Jersey's economy is shaped by its dense corridor between New York City and Philadelphia, with pharmaceuticals, finance, and logistics as key sectors.
Worked example: $97,126 payroll
($97,126 ÷ 100) × $1.00 = $971/year at a sample clerical rate. A construction class rate of $8.00 would make it $7,770.
Quick reference
- State income tax: 1.4-10.75% across 7 brackets
- State sales tax: 6.625% (plus -0.02% avg local)
- Median home value: $510,000
- Median household income: $97,126
- Effective property tax rate: 2.49%
- Avg auto insurance: $2,076/yr
Frequently Asked Questions
How is workers' comp calculated in New Jersey?
By payroll ÷ 100 × class rate × experience modifier, using New Jersey's approved rates.
Is workers' comp required in New Jersey?
Most New Jersey employers must carry coverage once they have employees; rules vary by industry and headcount.