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WalletHub: New Jersey is 2023’s state with the 6th highest tax burden

NEW JERSEY – New Jersey is 2023’s state with the 6th highest tax burden, according to a study done by WalletHub.

With Tax Day approaching on April 18 and 73% of Americans thinking that the government does not spend their tax dollars wisely, the personal-finance website WalletHub Tuesday released its 2023 Tax Burden by State report.

In order to determine which states tax their residents most aggressively, WalletHub compared the 50 states based on the three components of state tax burden – property taxes, individual income taxes, and sales and excise taxes – as a share of total personal income.

Tax Burden in New Jersey (1=Highest, 25=Avg.):
  • 6th – Overall Tax Burden (9.76%)
  • 4th – Property Tax Burden (4.88%)
  • 17th – Individual Income Tax Burden (2.36%)
  • 43rd – Total Sales & Excise Tax Burden (2.52%)

Source: WalletHub
Here are the top 5 states with the highest tax burden: 
  1. New York
  2. Hawaii
  3. Maine
  4. Vermont
  5. Connecticut

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

  1. Alaska
  2. Delaware
  3. New Hampshire
  4. Tennessee
  5. Florida

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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