Cresskill is known as one of the towns with a high-quality school district in Bergen County. The Cresskill School District is responsible for public K-12 education and consists of Cresskill Elementary School, Cresskill Middle School, and Cresskill High School. The number of students varies by year, but it is relatively small, with a total of about 1,200 to 1,500 students. One advantage of a small school district is the lower student-to-teacher ratio, which allows for closer interaction between teachers and students.

Cresskill High School is accredited by the New Jersey Department of Education and AdvancED/Cognia, offering a variety of academic programs, including Advanced Placement (AP) courses. In terms of New Jersey State Assessment (NJSLA) test scores, the Cresskill School District consistently achieves above-average results in Bergen County. It is particularly noted for its strengths in math and science, which is often attributed to the significant Korean community residing there. The school sports teams are part of the North Jersey regional league under NJSIAA.

The property tax in Cresskill reflects the overall high tax structure in New Jersey. New Jersey is considered one of the states with the highest property tax rates in the U.S., and Bergen County is no exception. The average effective property tax rate in Cresskill is reported to be around 1.8% to 2.2% of the assessed home value, with annual property taxes often exceeding $15,000 to $20,000 based on median home prices. Property taxes consist of State Education Tax, County Tax, Local Municipal Tax, and School Tax.

Property tax payments are generally divided into four installments per year (February, May, August, November). It is important to manage deadlines, as interest is charged for late payments. Many choose to automatically set aside taxes through an escrow account when making mortgage payments. If there is a dispute over the assessed property value, homeowners can appeal to the Tax Assessor, and there are real estate tax attorneys or agents who can assist with this process.

The annual municipal budget for Cresskill is prepared and approved by the city council. Major budget items include public safety (police, fire), public works (road maintenance, park management), administrative costs, and debt repayment. Separately, the school budget is prepared by the Board of Education and approved through a public vote. Since a significant portion of the school budget is funded by property taxes, an increase in the education budget also raises the property tax burden. Therefore, when considering purchasing a home in Cresskill, it is advisable to look at both the current property tax levels and trends in school budget increases.

New Jersey operates property tax assistance programs for low-income families and senior residents. Notably, the Homestead Benefit program provides property tax credits to homeowners with incomes below a certain threshold, while the Senior Freeze program offers benefits that freeze the tax level for homeowners aged 65 and older or disabled. Applications are made through the New Jersey Department of Treasury's tax division, and basic guidance can also be obtained from the Cresskill tax department.

If you are considering moving to Cresskill, it is important to recognize that property tax burdens are a major cost of living in New Jersey. It is wise to consult with a real estate agent or tax professional to verify actual tax amounts and incorporate them into your cost of living plans. The benefits of an excellent school district and a safe living environment come with the trade-off of high property tax burdens in Cresskill.