file photo by Boyd Loving
the staff of the Ridgewood blog
Ridgewood NJ, each year, the average American household spends $2,471 on real-estate property taxes plus another $445 for residents of the 27 states with vehicle property taxes. With such high costs, it’s no surprise that more than $14 billion in property taxes go unpaid each year, according to the National Tax Lien Association. In some situations, residents may be eligible to deduct taxes on personal property—such as real estate—from their federal income tax bill. If this is the case, an accurate online tax calculator should be used to ensure that the amount being deducted is correct. For those that are eligible to claim this deduction, the information should be correctly filled out on Schedule A of Form 1040 according to the IRS.
In order to determine who pays the most relative to their state, the personal-finance website WalletHub today released its 2022’s Property Taxes by State report, as well as accompanying videos and expert commentary. The report compares home and vehicle taxes across the nation and features insights from a panel of experts.
Property Taxes in New Jersey (1st=Lowest; 25th=Avg.):
- Real-Estate Property Tax Rank: 51st
- Vehicle Property Tax Rank: 1st
- Real-Estate Tax on Median State Home Value: $8,362
- Real-Estate Tax on Median U.S. Home Value: $5,419
- Vehicle Property Tax on Best-Selling Car: $0
For the full report, please visit:
https://wallethub.com/edu/states-with-the-highest-and-lowest-property-taxes/11585
Can you imagine another 10 years from now forget it.
Why Ridgewood?
Because…
YOUR RICH AND STUPID
Keep voting in politicians against your own best interests
Oh I forgot, we’re…
RICH and STUPID
Its ok as long as the state continues to make positive investments with money. Haha! What a joke!
Look what the police make. I talked to cops that I know and they tell me that they can’t even believe what they make .
Come on, you all in Ridgewood know you brag about your high taxes as a badge of honor and bend over and take it every year! After all, why in gods name do you have paid firefighters who are all related to the mayor? After all, your town buried municipal expenses in Ridgewood water for years and I made the rest of us pay for it.. all that did was cause cancer clusters!
To the above poster.
1. I’m not a fan of the Mayor, but we do have civil service tests and to be hired as a FF you must pass.
2. I’m a long time resident and the Paid FD with fast response times is a big factor in living here.
(I applaud any volunteers but they tend to be good at saving foundations due to delayed response times)
3. Its apparent you do not live here. you sound jealous..
4. You’re welcome to put in your own well, or buy your own water system. You have no right to get subsidized water on my dime.
5. I’d suggest Ridgewood water sell their property in other towns to developers in order to ‘help’ provide the necessary affordable housing to meet mount laurel requirements. A nice apartment complex on Godwin ave in midland park could probably house 500 apartments. The property on Cedar hill ave in wyckoff could probably house 900 apartments.
6. Why are you on the Ridgewood blog if you don’t live here..
Ridgewood peaked about 20-25 years ago.
Valley’s gone. So is the volunteer EMS. They’re hiring more cops and firefighters. The Village is run by Ridgewood PBA Local 20 (see the new $7 million Ridgewood Water HQ so they could give the police more room at Village Hall) and Ridgewood FMBA Local 47.
As interest rates start rising (Fed Funds rate seen at 3% by year end), watch what happens to interest rate expenses on Village municipal debt (which has increased massively under Knudsen), plus all that growing off balance sheet debt at Ridgewood Water (see above) and the NWBCD – which are both controlled by the Village.
House of cards…