New Jersey Residents Once Again Paying Higher Property Taxes Than Any Other State

Once again, New Jersey residents are paying the most in property taxes, according to a new analysis from the Tax Foundation.

Property taxes are the primary tool for financing local governments and generate a significant share of state and local revenues. In fiscal year 2020, property taxes comprised 32.2% of total state and local tax collections in the United States, more than any other source of tax revenue.

Local governments rely heavily on property taxes to fund schools, roads, police departments, fire and emergency medical services, and other services associated with residency and property ownership. Property taxes accounted for 72.2% of local tax collections in fiscal year 2020.

In calendar year 2021 (the most recent data available), New Jersey had the highest effective rate on owner-occupied property at 2.23 percent, followed by Illinois (2.08 percent) and New Hampshire (1.93 percent). Hawaii was at the other end of the spectrum with the lowest effective rate of 0.32 percent, followed closely by Alabama (0.40 percent), Colorado (0.55 percent), and Wyoming (0.56 percent).

There are just eleven counties in the entire U.S. where the average property tax bill is over $10,000 a year; six of them are in New Jersey.

- Advertisement -

1 COMMENT

  1. You mean to say the people who pay taxes are paying more.
    In state or city with a endless amount of tax-free properties AND those same property owners collecting all kind of benefits (ones that they are entitled to), yes, the tax payers are paying extra to cover those non-tax-paying benefit users.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Lakewood Planning Board Approves New BMG Dormitory For 700 Bochurim

The Lakewood Planning Board on Tuesday night approved Beth...

South New Prospect In Jackson To Be Upgraded To 3-Lane Roadway

Mayor Michael Reina and the Jackson Township Council have...

Two Kosher Eateries Near Edison Yeshiva Destroyed In 3-Alarm Blaze

Famous Jerusalem Pizza and the China Lee Kosher restaurant...

NJ Assemblyman Gary Schaer Introduces 3 Bills To Combat Antisemitism

With incidents of antisemitism, hate crimes, and online harassment...