Monday, October 12, 2015

High Taxes in the Garden State

Some bad news for the Garden State: Kiplinger's magazine has once again this year named New Jersey as one of its Top Ten Least Tax-Friendly States. New Jersey finished third from the bottom, ahead of only California and Connecticut.

The most damaging issue is New Jersey's property taxes, which are the highest in the nation. The median home value in our state, $307,700, currently incurs a median annual property tax bill of $7,331.

On the bright side, our gasoline taxes, at just 15 cents per gallon, are the second-lowest in the nation. The only state with lower gas taxes is petroleum-rich Alaska, at 12 cents per gallon.

No comments:

Post a Comment