Why is New Jersey Taxes and Real Estate so damn Expensive?
I dont buy the argument that its because its close to NYC, has lots of higher paying jobs, the salaries are higher, has better services, demand, etc.
I don’t find any justification in the fact that a small ranch that needs work on a postage stamp sized lot is $450,000 or more, with over $10,000 a year in property taxes. Its INSANE! I can move anywhere else in the country with the same feel (or better), same services, same amount of people, same job market, same salary range, etc. for 1/3 the price.
What is really going on in NJ? My friend owns an average sized bilevel of about 2000 sq. feet, on a half acre lot in a decent suburban town in Morris county, and the property taxes are over $20,000 a year, and rising! WHAT!!! Thats beyond unfair, thats unfathomable.
How does New Jersey think that this is even acceptable?
Well the fact IS that NJ is close to NY does play into the cost of real estate. It’s prime property. Supply & demand also plays a factor. Not too sure what you mean when you refer to higher salaries. As far as services, NJ does pay a lot for trash, sanitation, police, fire, schools, public transportation, etc. There are families that specifically move to a town/neighborhood based on a great school system. So that does drive the cost of property & taxes.
You certainly have a right to complain if you live in NJ. If you’re simply an out of stater making an observation, then I don’t get your point. Live elsewhere.