Could NJ follow one state’s lead and abolish property taxes?
One of the biggest drivers of the mass exodus of New Jersey residents is the outrageous property taxes we pay. We all have family members and good friends who have moved to lower-tax states.
We love our state and many of us hang on, hoping that someday, somehow, we will get some relief from being the state with the highest property taxes in the country. Well, there might be a glimmer of hope.
There is a state in the middle of the country that is proposing eliminating property taxes. Yes, eliminating them. To many, it's the most egregious of all taxes. You end up paying for something you already paid for and own forever.
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North Dakota is considering doing away with property taxes in their state. There is a proposition called Measure 4, which is on the ballot this year in that state. Rick Becker, chair of the organization that put Measure 4 on the North Dakota state ballot.
The ballot measure would repeal residential, commercial and agricultural property taxes, he noted.
Becker feels that if North Dakota passes the measure, other states might follow. States like Texas, Michigan, and Nebraska have considered similar measures. Some who are opposed to the idea admit that property taxes need some fixes, but taking a sledgehammer to the practice is a bridge too far.
People wonder how local essential services would be funded, such as schools, police, parks and roads. Perhaps a local sales tax could fill the gap.
Whatever the answer is to a replacement source of funding, it's obvious that something needs to be done. They're even so fed up in a state like North Dakota, where the average property tax bill is roughly $2,700. New Jersey's average is more than three times that amount, coming in at the top of the list with an average tax bill of around $8,600.
So we'll have to wait to see if brave citizens in a faraway state like North Dakota will take the lead. So, could New Jersey jump on that bandwagon? I hate to be pessimistic but don't hold your breath.
Average property taxes in New Jersey
Gallery Credit: New Jersey 101.5
Top 20 NJ towns with the most expensive property taxes
Gallery Credit: Rick Rickman
Opinions expressed in the post above are those of New Jersey 101.5 talk show host Dennis Malloy only.