New data released this week from New Jersey’s Department of Community Affairs (DCA) reveals that the average Garden State residential property tax bill has now topped $10,000 annually for the first time, a grim milestone for the country’s most consistently over-taxed citizens. The average property tax bill for 2024 reached $10,095 which represents a $292 (3%) jump from 2023.
Tax burdens are uglier the further you move north; Essex County property taxpayers shell out an average of $13,900 while Cumberland County residents average $4,901. According the Tax Foundation, ten New Jersey counties are presently among the nation’s twenty counties with the highest property tax burdens.
New Jerseyans will select a new governor this year and it seems almost certain that the state’s historic property tax burden will emerge as a leading issue.
The taxes on the last house I owned in New Jersey were in excess of $ 22,000 a year. Here in Florida I have a slghtly smaller home and I pay less a year than I did pre month back there. Reason number 14 why I couldn't get out of there fast enough...
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In Virginia - this year the assessment went up $150,000 to almost $1M on a 1950s ranch house. Crazy.
ReplyDeleteCome look at NH taxes
ReplyDeleteOne of the few things that California did right was in 1978 they passed Proposition 13 which limited your property value with respect to taxes. Just because a bunch of overpaid only fans decides your neighborhood is the place to be, doesn't mean that you should be taxed out of your home.
ReplyDeleteTough tiddy. NJ people overwhelmingly vote for Democrats aka Communists. Anyone with a couple of brain cells know that the only promises Democrats keep are to raise your taxes. Granted I do feel sorry for the few that dont vote for Communists/Democrats.
ReplyDeletein mississippi property taxes end at age 65, it's all mine now. before my taxes on 50 acres, a small house and two barns and a few out buildings were 450.00 a year. i love my state. also we have a surplus of tax revenues.
ReplyDeleteHAHA, talk shit about the south now yankee's.
I lived and owned a home in Bucks County, PA, right across the Delaware River from New Jersey. My property tax on 2-1/2 acres and a home worth $300,000 (we later sold it for $500,000) were $20,000 per year. A similar home in New Jersey at the same time was $40,000 per year.
ReplyDeleteYoung people who claim you'll never be able to afford a house, pay attention to who is doing this to you.
ReplyDelete