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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 74% of people disapproving of how the government has used tax dollars during the COVID-19 pandemic, WalletHub Tuesday released its 2021 Taxpayer Survey, as well as its yearly report on the States with the Highest & Lowest Tax Rates in order to help people better understand this confusing time of year.

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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