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inheritance tax

inheritance tax

Graveyard
Scott Barbour, Getty Images
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NJ is Taxing the Dead [AUDIO]

The transfer inheritance tax, one of New Jersey's oldest taxes, dates back to 1892. This 16 percent levy is applied when property is transferred outside a deceased resident's immediate family. Another so-called "death tax," the estate tax, is applied on property valued at more than $675,000.

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Property Taxes
Flickr User 401K
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Bury The Jersey Death Tax!

Jersey has one of the highest tax rates in the nation for people who are alive – but it also one of the worst states in the country for taxpayers who die.

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