WalletHub: New Jersey Is 2021’s State with the Highest Real-Estate Property Taxes

The New Jersey Statehouse and Capitol Building In Trenton

Each year, the average American household spends $2,471 on real-estate property taxes plus another $442 for residents of the 27 states with vehicle property taxes. With such high costs, it’s no surprise that more than $14 billion in property taxes go unpaid each year, according to the National Tax Lien Association.

In order to determine who pays the most relative to their state, the personal-finance website WalletHub today released its 2021’s Property Taxes by State report, as well as accompanying videos, which compares home and vehicle taxes across the nation and features insights from a panel of experts.

Property Taxes in New Jersey (1st=Lowest; 25th=Avg.):

  • Real-Estate Property Tax Rank: 51st
  • Vehicle Property Tax Rank: 1st
  • Real-Estate Tax on Median State Home Value: $8,362
  • Real-Estate Tax on Median U.S. Home Value: $5,419
  • Vehicle Property Tax on Best-Selling Car: $0

For the full report, please visit:
https://wallethub.com/edu/states-with-the-highest-and-lowest-property-taxes/11585

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