New Jersey: Known for Bruce Springsteen, those funny Jersey accents, and now: The highest effective property taxes in the United States! of about 2% of the assessed property value. This isn’t a one time charge.
And that tax is so high that it is forcing New Jersey mayor Sonny McCullough to sell him home since he can’t afford to pay the 60% tax increase from when his home was built in 1985.
These tyrannical taxes are whacking hard working New Jersey homeowners for a whopping one 50th of the value of the entire house each and every year–and it is a debt that can never be paid off. Even when you pay off the bank. The house can be taken away if you ever stop paying the man.
Where on earth did the state get the right to suck in that much value from your home each year?
The mayor’s price tag on his house was $31,000. Trivia question: Was that the price he paid for his house or was that his annual property tax bill? If you guessed the price of the home, you guessed wrong.