New Jersey Is #1 Again… For Property Tax Rates And Bills

The impact of property taxes on individuals can vary greatly depending on their location. The U.S. Census Bureau reports that the average American household pays $2,690 in property taxes annually for their home, while residents in 26 states also face vehicle property taxes of around $444. With the significant amount of debt in the United States, it’s not surprising that unpaid property taxes amount to over $14 billion per year, as stated by the National Tax Lien Association.

But which states have the highest property taxes? Well, the #1 state with a fair lead is our very own New Jersey.

According to a survey from personal finance website Wallethub, New Jersey has an effective property tax rate of 2.47%, and the average property tax bill on a median priced home in the state is a whopping $8,797. That’s the highest tax rate and the highest average tax bill in the nation by a mile.

No wonder so many families are choosing to move out of town…

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