the staff of the Ridgewood blog
Ridgewood NJ, Each year, the average American household spends $2,375 on real-estate property taxes plus another $441 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 order to determine who pays the most relative to their state, the personal-finance website WalletHub today released its 2020 Property Taxes by State report as well as accompanying videos, which compares home and vehicle taxes across the nation and features insights from a panel of experts.
No surprise here that New Jersey far outpaced the competition with nearly bankrupt Illinois coming in second highest and neighbors Connecticut coming in 4th highest ,New York coming in 8th highest and Pennsylvania came in 10th .
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: $8,104
- Real-Estate Tax on Median U.S. Home Value: $5,064
- Vehicle Property Tax on Best-Selling Car: $0.00
For the full report, please visit:
https://wallethub.com/edu/states-with-the-highest-and-lowest-property-taxes/11585/
Yes New Jersey is high. But we do have a great school system. My concern is how do the schools in other states rank against New Jersey. Where are the taxes are very low. Look into that.