So, NJ Property taxes are legendary. How legendary?

This legendary.

Union County, home of MusicFest 2007 is number NINE in the nation for property taxes.

But what about the Homestead rebate you say? Even if that lops off 17.5% of everybody’s bill (which it probably won’t), that would still place Union County at 17, (even higher when adjusting for all of the other NJ counties).

What gets me is that property taxes account for almost 8% of our incomes. Percentage of income for me is a fairer statistic, as the home prices here have been bid up due to the scarcity and don’t matter once you’re in your house – the tax bills and your income matter and directly affect your quality of life.

Nationally, (without having the time to crunch the numbers in the report) it appears that property tax as a percentage of income would be in the 3 percent range.

So, with an $85,000 median income in Union County, at 3% of income the property tax should be aroung $2,568.18.

Hey, we’re only $4,134.82 off.