New Jersey Ranks #1 in Highest Property Taxes in the USA
The 10 worst states for property taxes
Chloe Della Costa, Cheat Sheet 10:32 a.m. EDT March 21, 2015
U.S. property taxes can vary dramatically by county as well as by state. Since property valuation is complex and highly changeable with the market, value is not necessarily equal to cost or price. Depending on state law, property assessments are done anywhere from once per year to every five years. Then the value assessment of a home is multiplied by the local tax rate, or millage rate, to find the property tax amount owed by the homeowner. In states or counties where property taxes are generally higher, the burden can be great enough to persuade homeowners to consider selling so they can pick up and move elsewhere.
The Tax Foundation compiled Census data from 2004 to 2009 on property taxes on owner-occupied housing, ranked by state. States were ranked three ways: median property taxes paid on homes, taxes as percentage of median home value, and taxes as percentage of income. For simplicity’s sake, this list will focus on percentage of home value.
This methodology allows for a comparison that shows, all things being equal, which states would generally have the highest property taxes for a home.
https://taxfoundation.org/article/property-taxes-owner-occupied-housing-state-2004-2009
10 worst states to retire — Bankrate.com: “The problem with the Garden State is its high cost of living and high taxes, which pushed New Jersey into our bottom 10. New Jersey received low scores for happiness in terms of emotional health and work environment, as well as for taxes. Property tax collections are the highest in the nation, and state and local income taxes rank ninth among the states.
While all of the commuters spend their says in Manhattan and weekends at kids events, the private sector unions have quietly unleashed a tsunami of liabilities on our Village budget… years of excessive wage increases, and over promises on pensions and healthcare benefits are now impacting our ability to budget for anything other than wages, pensions, helathcare and interest paymnets on debt. This is even affter cutting 10% of the Village workforce in 2010. So all you commuters should know that all of your municipal property tax increases aren’t going to provide better services for you as a resident…. No, they’re going to pay for step wage increases, free $26,000 healthcare oplans, and milliosn in annual pension checks. Ridgewood has 12 members in the elite +$100K pension club, the top 1% of all public pensioners in the state. Many of these guys will make over $3 million in pension checks, more than they made when they were actually working ! This is why our property taxes are out of control and we’re being taxed to death.
I’d like to see the property tax laws changed so they are fair, as in Florida.
The tax assessments are based upon the PURCHASE price of the property, not the current value.
This protects the long time residents from the tax burdens that are increased by new residents,most of whom are only here on a temporary basis(while children attend school).
The new residents might think twice about voting “yes” on every school budget increase if they actually had to pay thei fair share.(they are being subsidized by retirees and those who never had children in the schools)
10:12 Why don’t you give a rest 10:57. Just about ever story that posted on this blog you have something to say about police & fire or union why don’t you move to Alabama and be done with it. You can still work at home there making all your investments for the same unions that you berate from there. I guess you don’t like it when The Gov’t goes after Wall Street and Executive salaries, We all know that you guys are the salt of the earth.
10:12 Jealousy is a complicated and common emotion experienced by humans which varies in forms and multitudes across relationships and cultures. It is defined as a “feeling resentment against someone because of that person’s rivalry, success, or advantages.”i The definition indicates that the perception of a rival is essential for the emotion to exist; without taking into consideration if the rival actually exists. It is an emotion that could rise in families, in the workplace, in friendships, and in romantic relationships. The most common interpretation of this feeling from the lens of evolutionary psychologists comes from “The Specific Innate Module Theory”. According to this theory, jealousy is an innate emotion which is guided by a specific set of neurons in response to perceived threats in the context of sexual relationships. On one hand, the theory suggests that jealousy in men is an innate predisposition guided towards their partner’s sexual infidelity; and on the other hand, the theory proposes that the feeling of jealousy in women is innately predisposed towards their partner’s emotional infidelity ii. The feeling of jealousy is often confused with envy; which is defined as “a painful or resentful awareness of an advantage enjoyed by another joined with a desire to possess the same advantage”iii. Envy differs from jealousy in the sense that the former emotion is experienced when an individual wants something that another individual has; while the latter is an intense emotion expressed when an individual fears that something or someone might be taken away from that individual himself/herself.
Hey James, what does the posts above have to do with why “NJ Ranks #1 in Highest Property Taxes in the USA”? Seems to me like Wall Street and Executive salaries – set by the free market and not some arbitrary CBAs negotiated behind closed doors with Dumbocrats falling over themselves for union votes in NJ – are what carries all of these wages for public sector employees in Ridgewood. Biting the hand that feeds you…
go after the fire and police, they make the big money. and they are aloud to leave with all the sick time, now for the rest of the work crew they can not.
Tax gal guess you to the wrong job path
I think it IS appropriate for posters to comment about the factors that do influence our property taxes…public unions.. However the biggest drain and waste is the board of education . I think we get a fair deal with the fire dept and police dept.. Just look at the tax bill and the municipal services are fair…the school budget is not.
no way cop’s it’s time for you to pay more for your benny’s hahaha. you make more then what you would ever think of. so go pis up a rope.