New Jersey’s property tax system is one of the most progressive in the country, but a new study says the system isn’t perfect.
In the state, homeowners can save an average of $60,000 on their property taxes annually, but some New Jersey residents have struggled to afford the costs, according to the research.
The analysis of state data shows the average homeowner in New York pays a whopping $12,400 in property taxes each year, according a report by the National Association of Realtors.
That’s an average rate of $3,500 per year.
The report, by real estate company Sotheby’s, shows the state has the third-highest rate of property tax delinquency among the nation’s 50 largest states.
The real estate industry has become a big business in New Hampshire, a state where property taxes account for more than half of state revenues.
In 2014, the average tax bill for New Hampshire was $3.9 million.
Sothebys’ analysis shows that the median home value in New England is $2.9-million, and that nearly 60% of homes in New Mexico have no mortgage payments.
According to the Sothebys analysis, a median family income in New Zealand is $60-million.
In comparison, New Jersey ranks fifth in the U.S. in median family incomes, with an average income of $56,300.
The median annual property tax bill in New Britain, Maine, Rhode Island and Vermont is $4,100.
According to the National League of Cities, the state’s median home price in 2014 was $315,000.
The SotheBYS analysis shows homeowners in New Brunswick, New Hampshire and Maine pay a combined average of about $5,600 per year in property tax.
According for the Satherbys analysis of the data, the median property tax in California, Texas, Illinois and Ohio is $13,000 per year for the median household income.
According a study by the Tax Foundation, the U,S.
has the second-highest property tax rate in the nation.
The average property tax for the U and the top 10 states was $31,700 per year, the foundation found.
A study by Real Assets Analytics found the state with the third highest property tax rates is New York, with a property tax burden of $11,900 per household per year on average.
The state with highest property taxes is California, with property taxes on average $24,600, the study found.
The median household in New Orleans, Louisiana pays $14,300 in property income taxes per year and has a median household disposable income of about half a million dollars, according the study.
Sara Mazzocchi is a news reporter at the New York Post.