In the previous article, The Exit Strategy, we saw that residents of New Jersey are fleeing the state at astronomical rates. Though no body knows exactly why such a departure continues to take place, one possible reason may be because of high property taxes.
According to a study completed by Tax Policy Center, New Jersey residents pay out the largest amount for property taxes each year. Which other states bear the high tax burden? You may or may not be stunned at which states trail the ‘Garden State,’ when it comes to property taxes.
|State:||2012 Mean Property Taxes Paid:|
|1. New Jersey||$7,318|
|2. New Hampshire||$5,230|
|4. New York||$5,040|
|7. Rhode Island||$3,820|
Source: Tax Policy Center