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
Here are the top 5 states with the highest tax rates:
- New York
Here are the top 5 states with the lowest tax rates:
For the full report, click here.