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Again New Jersey Ranks Worst in Tax Climate for Business

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file photo by Boyd Loving

October 30,2017

the staff of the Ridgewood blog

Ridgewood NJ, in the Tax Foundation’s annual comparison of state business climates New Jersey has once again ranked at the bottom of U.S. states  as it has since at least 2015.

While neighboring states  Delaware 15, Pennsylvania 26, Connecticut 44 , and New York 49.

The think tank ranked New Jersey 36th in unemployment insurance tax, 42nd in corporate business taxes, 46th in sales taxes, 48th in individual income taxes and dead last in number 50 in property taxes.

Joining New Jersey at the bottom of the ranking were New York, California, Vermont, Minnesota, Ohio, Connecticut, Maryland, Louisiana and Rhode Island.

Over two million people left New Jersey between 2005 and 2014, taking billions of dollars in income and economic activity with them, according to a state business group that blames high taxes for the exodus. Is anybody listening ?

 

8 thoughts on “Again New Jersey Ranks Worst in Tax Climate for Business

  1. This is why does 175 houses for sale in the village. All the senior citizens are moving out they can’t afford to live here anymore. There’s a big flip every 4 to 6 years why because of the school system that’s all, and you know what at the end the day school system is not the best that was many years ago there are many towns around Ridgewood with great schools.

  2. you forgot about births and people moving in…. http://worldpopulationreview.com/states/new-jersey-population/ …. other data shows 8.7 in 2005 and appx 8.8 now… https://suburbanstats.org/population/how-many-people-live-in-new-jersey

  3. Also Reaganus Maximus, who has fans on BOTH sides of the aisle, popularized the saying, “vote with your feet”, which means move to a more prosperous area if things are so bad… There are plenty of folks who want to move to RWood..

  4. You know it’s funny I never hear people say I would love to move into the village of Ridgewood. But I do hear they would love to move to Glenrock Ho-Ho-Kus Wyckoff.

  5. not Ho-Ho-Kus…

  6. We should all get our heads out of the sand. The state of New Jersey (and others) are in a dire financial situation due to unfunded pensions, ridiculous Union costs including health care, and obnoxious teacher contracts including pensions. Ridgewood is the poster for this behavior. The police, fire, and teacher contracts are just unsustainable no matter how good we think the services are. Why else would the mayor get all her kids on the town payroll and pensions if they were not well paid with life benefits ? Ridgewood is not as desirable as we all hope. Our property values have eroded with no real appreciation (why we can appeal tax assetment every year). Selling a house in Ridgewood is no longer a easy task, taxes are too high, no water, poor roads, normal school ratings, commute to NYC requires changing trains, fighting for parking, or long bus rides (Summit, Short Hills etc have no change). If you ask in NYC where young people are looking to move it is Westchester, southern/central NJ, and Nassau County. The house we purchased 15 years ago and fully updated is worth less now then what we initially paid for it.

    Taxes for a similar house (sq foot and cost) in those areas (1 hour commute to NYC) are 30-50% less then Ridgewood with similar rated schools, fire and police protection, less village “rules” and the simple ability to water your lawn or wash your car.

    The population numbers posted by 3:42 negate that the high earners are leaving at a increasing pace. Think about why someone would pay a state tax of 7-11% when they can move less then 100 miles away and pay 0-3 %. Retires or high earners are mobile, there is little reason to pay NJ/Ridgewood much longer

  7. 8:51 pm with everything you said and your still living in Ridgewood? Why? Last time I checked………………..wait let me check again……………………………………………………………..Yup, the last time I checked you didn’t need a passport to leave Ridgewood or New Jersey. So you can move to whatever shithole has the level of taxes your willing to pay. Good Riddance.

  8. What’s wrong with Ho-Ho-Kus or Wyckoff

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