Homeowners who are frustrated with high property taxes may not want to head east. According to the 2009 State Business Tax Climate Index, New Jersey boasts the highest property taxes in the nation. The average per-capita tax for residents and business owners is $2,642, or 4.88 percent of the state’s average income. Connecticut, New Hampshire, Montana and New York were close behind, with averages of $2,393, $2,320, $2,175 and $2,124 respectively. Alabama and Arkansas had the lowest averages, at $477 and $527.
Wyoming is considered to have the best tax climate for businesses, along with South Dakota, Nevada, Alaska and Florida. Rhode Island, Ohio, California, New York and New Jersey ranked at the bottom.
As a homeowner, for over 25 years, it doesn’t help me if my neighbors are selling their homes at 4x – 5x the original cost. My property taxes go up accordingly, and I cannot afford to buy another home nor do i desire a new mortgage. What is solution?
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It might be my fault but the property taxes on my home seem like more than 10% of my income! I should have been a smarter buyer!
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