
file photo by Boyd Loving
By Dino Flammia April 6, 2017 3:00 AM
Nationally in 2016, the average property tax bill on a single family home was $3,296.
In New Jersey, it was $8,477, reinforcing the state’s reputation as being the least tax-friendly to its residents.
According to a report released Thursday by real estate database ATTOM Data Solutions, New Jersey easily takes the top spot for highest property taxes, beating out second-place New York by more than $1,400.
Relative to the average market value of single family homes in the state, New Jersey also posted the highest tax rate in the nation — 2.31 percent, the California-based company said. The rate topped 2 percent in only four other states – Illinois, New Hampshire, Texas and Vermont.
“New Jersey homeowners in 2016 paid a cumulative total of over $20 billion in property taxes just on single family homes,” said ATTOM senior vice president Daren Blomquist.
That represents nearly 10 percent of the $277 billion levied on single family homes nationwide, according to the report.
Read More: New report shows how much more NJ pays in property taxes vs. rest of U.S. | https://nj1015.com/new-report-shows-how-much-more-nj-pays-in-property-taxes-vs-rest-of-u-s/?trackback=tsmclip