Already Nation’s Highest, NJ Property Taxes Still Going Up
New Jersey’s residential property taxes — already the highest in the nation — increased at their fastest rate in three years in 2014, according to data from the state Department of Community Affairs.
Property taxes jumped by 2.2 percent to an average of $8,161 last year, and some lawmakers are calling for shrinking the number of local governments, which levy and collect the taxes.
“I think we need a lot less bureaucracy at a local level,” Democratic state Sen. Loretta Weinberg said, suggesting that local governments bring down their rates by sharing services like schools and police departments.
The rate went up despite a cap of 2 percent on property tax increases imposed in 2010. The cap included a number of exemptions, which could result in increases above the rate. Republican lawmakers and Gov. Chris Christie regularly cite the cap as a signature achievement.
This article appeared in print on page 18 of edition of Hamodia.
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