In case you missed the news, it came out this week that New Jersey holds a rather unenviable distinction: We've got the highest property taxes in the nation, again this year. After a 4.1 percent hike in real estate taxes, the average property-tax bill in the Garden State rose by 2.4 percent in 2011. The end result: the final average bill was $7,519 in 2011. That's up 20 percent from 2009.
The good news is that the 2.4 percent average increase was the smallest that figure has been in over a decade. The effective property-tax rate was rising at around 7 percent per year from 2004 to 2006.
It's been a long ten years for taxpayers. Since 2001, overall, property taxes have increased by a stunning 66 percent in New Jersey. The average Garden Stater's property-tax bill in 2001 was $4,661. That probably felt like a lot back then, but it seems pretty enviable now.
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