Depending on what your definition of 'good' is.
Every year the New Jersey Department of Community Affairs compiles a report that details the state of our property taxes. According to the NJDCA the average local property tax bill increased by $172 last year. That’s obviously not across the board statewide, with the largest increases concentrated mostly in North Jersey. The good news, relatively speaking, is that in one of the most heavily taxed states in the union the rate of property tax growth is slowing.
Property taxes have been an issue for decades but are being pushed to the forefront recently over the sudden and pressing concern of affordability. After Murphy underperformed and the Dems took a whooping statewide the issue of New Jersey being too damn expensive is now seemingly of utmost importance. Took you long enough.
Property taxes are, politically speaking, unpopular. So are the methods used to cut them. One of the biggest drivers of property taxes are schools. It won’t surprise you to learn that hacking the holy hell out of school budgets doesn’t win you a ton of votes. What’s the solution to the property tax issue? You’d think somebody would have discovered it in the past 40 years and spoken up by now.
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