Property Taxes Climb Despite Falling Incomes in New Jersey
Economic Development, Featured, Policy, Taxation — By Paul Tyahla on October 1, 2010 at 6:38 PMThe U.S. Census Bureau released its one-year American Community Survey data for 2009 this week, and the report highlights the blight of state taxpayers. Last year, property taxes increased and remained highest in the nation, despite median household income falling for the year.
New Jersey homeowners spent 7.45% of their income on property taxes in 2009, up .43% from the prior year. Median household income fell by $1,667 to $88,343.
The state also maintained its status as having the highest property taxes in the nation, and seven of the ten highest-taxed counties are in the Garden State. The chart below allows readers to rank New Jersey counties by median property taxes, and taxes as a percentage of household income and home value.
New Jersey Property Taxes by County
| County | Median Property Taxes Paid on Homes | Median Home Value | Taxes as % of Home Value | Median Income for Home Owners | Taxes as % of Income |
|---|---|---|---|---|---|
| Bergen County | $8,708 | $475,900 | 1.83% | $101,369 | 8.59% |
| Hunterdon County | $8,671 | $430,200 | 2.02% | $117,893 | 7.35% |
| Essex County | $8,245 | $378,900 | 2.18% | $94,867 | 8.69% |
| Passaic County | $7,939 | $373,100 | 2.13% | $82,038 | 9.68% |
| Morris County | $7,904 | $458,200 | 1.73% | $113,138 | 6.99% |
| Union County | $7,793 | $381,800 | 2.04% | $90,092 | 8.65% |
| Somerset County | $7,720 | $401,900 | 1.92% | $104,902 | 7.36% |
| Monmouth County | $7,043 | $402,800 | 1.75% | $100,092 | 7.04% |
| Mercer County | $6,683 | $317,600 | 2.10% | $92,844 | 7.20% |
| Hudson County | $6,653 | $386,300 | 1.72% | $87,734 | 7.58% |
| Middlesex County | $6,353 | $348,100 | 1.83% | $92,754 | 6.85% |
| Sussex County | $6,174 | $306,500 | 2.01% | $89,271 | 6.92% |
| Warren County | $5,879 | $298,600 | 1.97% | $81,851 | 7.18% |
| Camden County | $5,668 | $226,900 | 2.50% | $78,048 | 7.26% |
| Burlington County | $5,654 | $269,100 | 2.10% | $83,944 | 6.74% |
| Gloucester County | $5,515 | $239,000 | 2.31% | $81,130 | 6.80% |
| Atlantic County | $4,559 | $259,100 | 1.76% | $68,333 | 6.67% |
| Ocean County | $4,394 | $283,100 | 1.55% | $65,955 | 6.66% |
| Salem County | $4,255 | $190,300 | 2.24% | $66,524 | 6.40% |
| Cumberland County | $3,771 | $178,600 | 2.11% | $62,354 | 6.05% |
| Cape May County | $3,732 | $335,700 | 1.11% | $59,787 | 6.24% |
About the American Community Survey Data
The American Community Survey (ACS) relies on survey data collected from households, similar to the process used by the U.S. Census. Whereas the Census counts the number of people in the United States, the ACS seeks to tell researchers how those people live. The survey data collected in the ACS is used in many government functions, such as decisions on how to distribute federal tax dollars and the calculation of official poverty estimates.
The ACS releases one-year data for various housing and person variables for areas with populations greater than 65,000.
Tags: property taxes
