New Jersey already has some of highest property taxes. They’re even higher for the Downbeach and Jersey shore region.
According to NJ Spotlight News, 2023 local property taxes increased:
- Brigantine +7.3 %
- Longport +6.9 %
- Margate +6.7 %
- Ventnor +5.3 %
The biggest property tax decrease was Atlantic City at -5.8%.
92% of New Jersey towns saw their average rates rise, with 11 of those double-digit increases.
See NJ Property Tax Map here.
In terms of population, according to ESPN NJ 97.3 Radio:
https://973espn.com/south-jersey-highest-property-tax-increases/
About 60 cents out of a dollar goes to public school funding. Those numbers will increase as pensions and salaries climb.
Take a look at NJ school salaries for examples. The state is also paying various entitlements. Not to mention the recent proposal to increase gas taxes (again) and transit by 15%.
Folks, we are being taxed to poverty but keep voting for the same politicians.
Eventually, NJ will be too expensive for many people (taxes, inflation, utilities, insurance).
P.S.
Don’t forget the massive increases in home owners insurance. Mine went up almost 25%. Looks like Florida has similar issues.
After Hurricane Sandy, I remember reading an article that stated that the federal government and the insurance industry want to get all housing and development off all of the Barrier islands.
How would they do it?
Keep increasing flood insurance and property insurance. Their goal, is to allow nature to take it over.
Anyone living on a barrier island, knows that home owners insurance is not available from the conventional insurance companies. Loyds of London, that’s about it.
Hang on, the ride hasn’t even started.
Fiscal mismanagement. Even with much higher real estate ratables, these shore towns still raise taxes. Up next: a re-val.