Saturday, March 12, 2011

N.J. property taxes up 4.1 percent in 2010; average property tax in 2010 was $7,576.

Asbury Park Press reports on New Jersey's high property taxes:
If you didn't know it already, it's now official: Your property taxes are way up.

The overall property tax in the state rose 4.1 percent in 2010, when compared with 2009, according to the official local tax rate list released Friday by the state Department of Community Affairs. It is the largest increase since 2007, when taxes spiked 7.3 percent.

The average property tax in 2010 was $7,576. That is up $295 from the 2009 average of $7,281.
Ouch.