The Garden State takes the dubious award for highest property taxes in the country, according to a survey by WalletHub, with the average property tax levy in that state a hefty $3,971 per year. Also near the top of the list are Illinois, New Hampshire, Wisconsin, Texas and Connecticut.
The typical New Jersey tax bill is more than eight times the average property tax bill in Hawaii, the state with the lowest property taxes, which clocks in at $482 per year. Hawaii is unusual in that it takes in so much tax revenue from tourists and tourism in the form of sales and excise taxes. But Louisiana and Alabama, next on the list, have average annual property taxes of $752 and $832, respectively, which is also just a fraction of a New Jersey tax bill.
It’s not the first time New Jersey has topped this list. “New Jersey has always relied heavily on its property taxes,” said Jill Gonzalez of WalletHub.
New Jerseyans are concerned about their tax burden. A survey released in November by the Monmouth University Polling Institute found that half of its residents want to move out of the state at some point. Property taxes were the most commonly cited reason, followed by the general cost of living.
“Many New Jerseyans are saying, ‘I don’t think this is getting any better, so why don’t I just pay with my feet,’ ” said Patrick Murray, director of the institute.