New Jersey Has the 9th Highest Tax Rates in the Country – WalletHub Study
With Tax Day looming and 81% of people being more worried about inflation than taxes this year, WalletHub today released its 2023 Taxpayer Survey, as well as its yearly report on the States with the Highest & Lowest Tax Rates, in order to help people better understand this confusing time of year. You can find highlights from both below, followed by the full list of WalletHub’s 2023 taxpayer resources.
Tax Rates in New Jersey (1=Lowest; 25=Avg.):
- 43rd – Overall Effective State & Local Tax Rate
- 10th – Income Tax
- 51st – Real-Estate Tax
- 1st – Vehicle Property Tax
- 7th – Sales & Excise Taxes
2023 Taxpayer Survey
- 73% of people say the government does not spend their tax dollars wisely.
- Almost 34% of people say not having enough money is their biggest Tax Day fear, followed by making a math mistake (23%) and getting audited (22%).
- 39% of people would move to a different country for a tax-free future, while 37% would get an “IRS” tattoo and 23% would stop talking for 6 months.
- 49% of people would do jury duty rather than do their taxes, while 36% would talk to their kids about sex and 26% would miss a connecting flight.
- 72% of people think their current tax rate is too high.
WalletHub’s 2023 Taxpayer Resources
- What to Do if You Can’t Pay
- Pros & Cons of Paying with Credit
- Tax Scams & Tips for Avoiding Them
- Last-Minute Tax Tips
- Property Taxes by State
(Visited 235 times, 1 visits today)