Too Many Towns Equals High Property Taxes

Too Many Towns Equals High Property Taxes

NEW BRUNSWICK, NJ – “Recent studies by the Tax Foundation ranked New Jersey first in two categories residents and companies probably wished it did not: highest median property taxes and the least business-friendly tax structure in the US.

According to the Washington, DC-based nonprofit organization, New Jersey took the top spot for median real estate taxes paid in 2008: $6,320, well ahead of the second-ranking state, Connecticut at $4,603. Further, based on a median homeowner income of approximately $90,000, New Jerseyans plunk 7% of their paychecks toward property taxes, again, tops in the nation.”

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