Property taxes rose a record-3.2 percent in fiscal 2016, CNS News reports.
The 2016 amountof taxes collected was $540,701,000,000 compared to $523,952,380,000 in 2015. New Jersey property owners paid the most taxes in 2016, reports WalletHub, with annual taxes set at 2.35 percent. The rate in some areas was more than double the national average.
In New Jersey, Democratic candidate for governor Jim Johnson has pitched a plan to lower property taxes by ending the foreclosure cycle and making homes more affordable.
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1 comment:
States, cities and counties want more and more money to do things they shouldn't be doing. Property tax is the easiest way to get it. It's wrong on many levels. Among them...the government should limit its activities to only what a government should be doing...infrastructure and public safety, mainly. They should not be making donations to non profits and launching their little pet projects. There should also be equity in the taxing so that slumlords aren't paying lower taxes because they have driven values down, and currently exempt properties like churches and universities should be supporting the operations of the government as well. It's like a flat tax model. It needs to begin with government dialing back to provide core services, not fluff! What's going on is bad for homeownership, business, and every day people.
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