Follow Us:

Daily Number

  • Article
  • Comments

51

March 11, 2016

This probably won’t come as a news flash to residents, but New Jersey homeowners pay the highest property taxes in the country, ranking dead last in a recent study by WalletHub, the personal finances website. How bad is it? New Jerseyans pay an effective real-estate tax rate of 2.29 percent, which works out to $4,029 on a $176,000 home. Unfortunately, the median cost of a house in the Garden State is $319,900, for a tax bite of $7,335.

The average American household spends $2,127 on property taxes for their homes each year, according to the U.S. Census Bureau. Neighboring New York has an effective tax rate of 1.58 percent; Pennsylvania, 1.51%.

Of course, if you’ve always longed to surf the big waves and chow down on poi then you’re in luck. Hawaii has the lowest real-estate tax in the country: 0.28 percent.

Read more in Daily Number
Sponsors
Corporate Supporters
Most Popular Stories
«
»