Behold the credit rating. The mystery and the majesty of the holy credit rating.

You remember when you were a kid and adults in schools threatened you with something “going down on your permanent record? " Of course, there was no such thing.

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Unless it was your credit rating they were speaking of, because that sucker can haunt you. Your worthiness depends on it. Marry the wrong person, and you can damage it. If you have an imperfect credit score, your car insurance can be unfairly impacted by it. Some prospective employers have judged your candidacy by your credit score.

As important as a credit score, can carrying more credit card debt lower that score? You bet your TRW it can.

The more debt you're carrying, the worse off your score can be because roughly 30% of your credit rating is based on the amount of debt you owe. High balances can lead to what’s called high credit utilization ratios, which can hurt you even if you’re paying your bill in full. Also, a high balance can increase your debt-to-income ratio. That can harm you in qualifying for new credit.

A study by SmartAsset set out to find places in the United States with the least credit card debt per capita as a percentage of income and net worth. They looked at metrics like income, credit card debt, debt as a percentage of income, and net worth to debt-adjusted scores.

One county in New Jersey can carry more credit card debt than another but still be in better shape because of other factors like average incomes. For example, Cumberland’s average debt is only $2,929, but their income averages only $28,311, so they don’t fare as well as Hunterdon County, with an average debt of $6,077 but an income average of $58,795.

Here are the Top Ten counties in New Jersey that fared the best according to SmartAsset.

Canva / TSM Illustration / Google Maps
Canva / TSM Illustration / Google Maps
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1 Somerset $5,529

Canva / TSM Illustration / Google Maps
Canva / TSM Illustration / Google Maps
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2 Morris $5,691

Canva / TSM Illustration / Google Maps
Canva / TSM Illustration / Google Maps
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3 Hudson $4,052

Canva / TSM Illustration / Google Maps
Canva / TSM Illustration / Google Maps
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4 Mercer $4,417

Canva / TSM Illustration / Google Maps
Canva / TSM Illustration / Google Maps
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5 Hunterdon $6,077

Canva / TSM Illustration / Google Maps
Canva / TSM Illustration / Google Maps
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6 Cape May $4,449

Canva / TSM Illustration / Google Maps
Canva / TSM Illustration / Google Maps
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7 Cumberland $2,929

Canva / TSM Illustration / Google Maps
Canva / TSM Illustration / Google Maps
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8 Bergen $5,529

Canva / TSM Illustration / Google Maps
Canva / TSM Illustration / Google Maps
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9 Monmouth $5,681

Canva / TSM Illustration / Google Maps
Canva / TSM Illustration / Google Maps
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10 Essex $4,145

Average property taxes in New Jersey

These are the county and municipal average property taxes for 2023. The data comes from the New Jersey Department of Community Affairs.

Gallery Credit: New Jersey 101.5

Weird things NJ taxes - and some they don't

In general, New Jersey assesses a 6.625% Sales Tax on sales of most tangible personal property, specified digital products, and certain services unless specifically exempt under New Jersey law.
However, the way the sales tax is applied in New Jersey sometimes just doesn't make sense.
New Jersey puts out an itemized list for retailers that spells out what is, and what is not, taxed. 
Perhaps because this is New Jersey, there are some bizarre and seemingly contradictory listings. 

Gallery Credit: Eric Scott

Top 20 NJ towns with the most expensive property taxes

These are the 20 New Jersey towns with the biggest average property tax bills in 2023, according to data from the Department of Community Affairs.

Gallery Credit: Rick Rickman

Opinions expressed in the post above are those of New Jersey 101.5 talk show host Jeff Deminski only.

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