Skip to main content
New Jersey has the highest property taxes in the nation, according to a new analysis by the Tax Foundation: an effective tax rate of 2.23%. By comparison, Hawaii has the lowest property taxes, with an effective tax rate of 0.32%. High education costs in New Jersey are a major factor driving its property taxes, while the tax burden is much lower in Hawaii because property taxes there are mostly paid by tourism. Taxation policies vary so widely that a person might pay $8,000 more in one state versus another for a home of the same price.
Editors’ Picks
-
It's not just income tax issues that are causing people to leave the Northeast - it's also property taxes. New Jersey is perennially ranked the worst state in the country to do business in, largely due to high income taxes. Having the highest residential property taxes in the nation probably does not help retain residents either.
Where Do People Pay the Most in Property Taxes?
https://taxfoundation.org
To view or add a comment, sign in
-
If you purchase rural acreage, you may qualify for a substantial property tax break through the agricultural exemption if you meet state regulations. The savings are significant, but you must faithfully adhere to your state’s rules. Here’s what you need to know.
Can You Benefit From an Agricultural Tax Exemption?
https://www.houseopedia.com
To view or add a comment, sign in
-
Bill Fanter commented on this
Homeowners in New Jersey spend nearly $8,000 more on property taxes than homeowners in Hawaii for a median-priced home in the U.S.
These are the U.S. states with the highest property taxes—New York and California aren't in the top 10
cnbc.com
Former bank executive with 35 years of experience | Options trading expert who has taught 650+ students | Join my Masterclass to learn the strategy I used to create a 6-figure income stream
Exactly why I left Illinois Real Estate taxes on my $1.5MM home were $50,000 a year 👎🏻
To view or add a comment, sign in
-
Director of Training/Operations Manager @ 1st Signature Lending, LLC | Risk Management, Process
The issue we face is one the neighborhood has fought for years. A local taxing authority giving you back crumbs for all the hard work of preserving and rebuilding your community. Our efforts to rebuild this area will stand for generations. I just wish the taxpayers who lost their homes to the city could have stayed. It is to little to late. Gentrification isn't caused by whites moving in. Its caused by government driving policies that kill neighborhoods. I do want to offer a correction to this story. White non Hispanics did not sky rocket. There were none here 23 years ago. What has changed is our neighborhood is full of hispanic and asain neighbors making us likely the most diverse neighborhood in Indianapolis. Riverside residents have done well to build new homes, keep vacant lots clean and bring families, jobs, education and opportunities to our home and we are not beat yet. We will march on!! THIS IS HOME!!!
Pilot program aims to give relief to Riverside property taxpayers - Indianapolis Business Journal
ibj.com
To view or add a comment, sign in
-
"The fact that some cities depend more heavily on property tax income than others has led to a counterintuitive situation in which the cities with the highest effective property tax rates — Detroit and Newark, New Jersey — are among the poorest." #tax #budgets #realestate #journalism
To view or add a comment, sign in
