It’s Not Easy to Live in New Jersey

tax wise.

Sure, we enjoy full service at the pump while paying probably the lowest gas price in the nation, but other than that, there isn’t much for us to cheer about.

New Jersey is notorious for its high property taxes (see how many NJ counties are paying the highest property taxes) because, among many other reasons, every town in the Garden State has its own school district, even though NJ is also one of the stats with the highest median family income in the nation. The property taxes, together with the 7% state sales tax, which is also one of the highest, are enough to make New Jersey the stat with the heaviest tax burden.

Recently, the Tax Foundation conducted a study on taxes residents of the 50 states pay at the state and local level and found that New Jerseyans pay the most, at 11.8% of their total income.  Round up the rest of the top 10 stats are:

• New York: 11.7%
• Connecticut: 11.1%
• Maryland: 10.8%
• Hawaii: 10.6%
• California: 10.5%
• Ohio: 10.4%
• Vermont: 10.3%
• Wisconsin: 10.2%
• Rhode Island: 10.2%

At the other end of the spectrum, the 10 states with the lowest state and local tax rates are:

• Alaska: 6.6%
• Nevada: 6.6%
• Wyoming: 7.0%
• Florida: 7.4%
• New Hampshire: 7.6%
• South Dakota: 7.9%
• Tennessee: 8.3%
• Texas: 8.4%
• Louisiana: 8.4%
• Arizona: 8.5%

No wonder New Jersey quickly lost its population.

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