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WalletHub: New Jersey has the 10th highest tax rates in the country

NEW JERSEY – New Jersey has the 10th highest tax rates in the country, according to a study done by WalletHub.

With Tax Day looming and 44 million Americans expecting to pay this year’s taxes late due to the COVID-19 pandemic, WalletHub today released its 2022 Taxpayer Survey 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 2022 taxpayer resources.

2022 Taxpayer Survey

  • 72% of Americans think the government should have provided more tax relief due to COVID-19.
  • 81% of people say the government does not spend their tax dollars wisely.
  • Half of people would move to a different state to avoid taxes.
  • 48% of Americans think that their neighbors cheat on their taxes.
  • 66% of people think their current tax rate is too high.

Tax Rates in New Jersey (1=Lowest; 25=Avg.):

  • 42nd – Overall Effective State & Local Tax Rate
  • 10th – Income Tax
  • 51st – Real-Estate Tax
  • 1st – Vehicle Property Tax
  • 7th – Sales & Excise Taxes

Source: WalletHub
Here are the top 5 states with the highest tax rates: 
  1. Illinois
  2. Connecticut
  3. New York
  4. Pennsylvania
  5. Kansas

Here are the top 5 states with the lowest tax rates:

  1. Alaska
  2. Delaware
  3. Montana
  4. Nevada
  5. Wyoming

For the full report, click here.

Jay Edwards

Born and raised in Northwest NJ, Jay has a degree in Communications and has had a life-long interest in local radio and various styles of music. Jay has held numerous jobs over the years such as stunt car driver, bartender, voice-over artist, traffic reporter (award winning), NY Yankee maintenance crewmember and peanut farm worker. His hobbies include mountain climbing, snowmobiling, cooking, performing stand-up comedy and he is an avid squirrel watcher. Jay has been a guest on America’s Morning Headquarters,program on The Weather Channel, and was interviewed by Sam Champion.

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