When it comes to taxes in NJ … it’s worse than you think

We all know that New Jersey has the highest property taxes in the country. It's the reason many of our family members and friends have fled to other states, even other countries.

We also have the 6th highest state income taxes in the country. It is nearly impossible for a young person or couple to achieve the American dream of owning a home here in our state.

Yes, real estate prices are high, but the real killer in that monthly payment is our obscene property tax.

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That's not hyperbole. Many people from other states hear what we pay in property taxes and their reaction is sheer shock and astonishment. That is the main contributor to what makes New Jersey the highest in the nation when it comes to overall taxes you will pay in a lifetime.

The average New Jerseyan will pay nearly $1 million in overall taxes in a lifetime. The number is $987,117 according to the website Self Financial. The average American will pay roughly half of that with a total of $524,625.

It's no wonder that many of our friends and family have moved to greener pastures. It's also why many young people don't see a future here. Even New York State pays much less than us here in New Jersey over a lifetime of paying taxes.

Something has to be done to try and save the state from becoming a real-life version of the haves and have-nots. It will only be affordable to the very wealthy or those sucking off of the system. Big changes have to take place under that gold dome in Trenton if we are to stay and enjoy the state we love.

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

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