By Elliott Brack
Editor and Publisher, GwinnettForum
JUNE 27, 2023 | Those of you who don’t like to pay high property taxes ought to be pleased you don’t live in New Jersey.
That state has the distinction of having the highest property tax in the nation. Residents of that state pay property tax at a rate of 2.13 percent. Property tax owners in Georgia pay at a rate of 0.87 percent, right in the middle (25th) of all the states.
Back to New Jersey: a proposal before their Legislature would give older New Jersians a terrific tax break, something similar to what we have in Georgia. The Democratic Legislature is proposing giving senior citizens what amounts to up to a cut in half of their property tax. Anyone 65 years and older with an annual income of $500,000 or less would be eligible for this reduction beginning next year. The idea is that this would make New Jersey a better place for seniors to retire. The proposal has a name which indicates the focus of the plan: “StayNJ.”
Some 85 percent of New Jersians have incomes of less than $200,000 annually. So this new rate for citizens of that state would help a substantial portion of senior citizens in New Jersey.
A tax break like that is not new to Georgians, and residents of 11 other states: Alabama, Alaska, Florida, Hawaii, Mississippi, New Hampshire, New York, South Carolina, South Dakota, Texas and Washington. In most cases, the exemption is a portion of the home’s value that can be added to the homestead exemption.
Here in Georgia, including Gwinnett, the exemption on property taxes means that those over 65 are exempt from paying school taxes. That can be a significant portion of a property tax bill…at least 60 percent of many Gwinnett bills.
The ten highest property tax rates in the U.S. are :
- New Jersey – 2.13%;
2. Illinois – 1.97%;
3. New Hampshire – 1.89%;
4. Vermont – 1.76%;
5. Connecticut – 1.73%;
6. Texas – 1.60%;
7. Nebraska – 1.54%;
8. Michigan – 1.53%;
9.Wisconsin – 1.53%; and
10.Ohio – 1.52%.
Don’t know about you, but I have no problem in paying reasonable taxes to the governments.
After all, you pay taxes to local governments so that it will function reasonably; will look out after your manner of living in a safe environment (such as police, fire and health services); will educate your children, and in many cases will even pick up your garbage, all included in what you pay in local taxes. Add to that the larger federal taxes that go to our common defense, produce a wide circle of services, and even provide (with your input) benefits to you in your latter years (Social Security).
Here in Georgia, some residents in the last two years have found themselves on the receiving end of something vastly different: a surprise tax refund. Seeing the state of Georgia get high revenues, Gov. Brian Kemp has signed legislation giving up to $500 to each taxpayer.
While such a move is pure Populism and a playing to the people in a real political sense in the strictest form, still it has been a welcomed letter in the mail to many Georgians.
New Jersey residents must stand in awe of Georgia taxpayers.
- Have a comment? Send to: elliott@brack.net
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