Thought this was obvious, especially since the average home price is over a million. Hard to swallow an argument about a “poor homeowner” who can’t afford taxes when you are talking about Millburn. How about you sell the house and move a town over? You’d probably make a fortune doing it too.
From the Star Ledger:
The little pond in Taylor Park here was once the town swimming hole.
Today, the town pool at Gero Park has a water slide in the big pool, a waterfall umbrella in the wading pool, and a snack bar. The tennis courts there are lit at night, and there is a roller hockey rink. Nearby is a par 3 golf course. Millburn’s tax dollars at work.
Like many New Jersey towns, Millburn’s schools, services and recreation have grown exponentially during the past few decades, much of it paid for by property taxes. In Millburn, the average homeowner pays $18,159 a year in property taxes.
“We’re the highest town in the highest state, so that must mean we’re the highest in the nation,” said Tom Thomas, a formermayor and member of the Old Guard, which meets every Thursday in an old civic center next to the pond.
Yes, New Jersey’s property taxes are the nation’s highest. It is government’s sustenance: Property taxes account for 45 percent of all tax revenue raised in New Jersey. The national average is 29 percent.
Some say high property taxes have turned into a terminal disease for the state. High taxes and high home prices are conspiring to drive people out, which, in time, will flat-line New Jersey’s real estate values — if it hasn’t already. New Jersey: First in property taxes, near first in resident exits. Since 2000, the state lost 163,000 households and $12.8 billion in gross income.
Even this may not help senior citizens in high-end towns, where property values drive taxes upwards into the $25,000 to $40,000 range.
“This is especially prevalent among seniors, who are finding it difficult to stay in their homes in New Jersey,” Moran said.
The high taxes are linked by formula to property values. Millburn’s average home price, which is $1,088,148, but many seniors don’t want to cash out. They want to stay.