Live In South Jersey? Congrats! Your Income Taxes Are Super Low
You'll very rarely hear "New Jersey" and the word "cheap" mentioned together in the same sentence.
It's a well-known fact that if you choose to live in the Garden State, your bills are going to be quite a bit more expensive than in other parts of the country. Houses are more expensive, property taxes are outrageous, and we even have a vehicle owner tax that residents need to cough up to the powers-that-be.
You may be surprised to hear, however that there is one area in which New Jersey isn't robbing people blind (harsh, but that's how it feels sometimes). Believe it or not, the people of the Garden State don't pay too much in income taxes compared to the rest of America.
Are you just as shocked as I was? Well, believe it.
According to a new survey, while it's true that New Jersey is super pricey in almost every other category when it comes to taxes, our income tax rate really isn't too awful. In fact, the Garden State has the 10th cheapest income tax rate in the country. Wild, right?
What a switch from the normal NJ narrative.
So, why are income taxes so cheap in New Jersey? Well, that's a question that has multiple answers. One factor, though, is how many people are packed into such a tiny state. With so many people living and working in the Garden State and such high taxes placed on just about everything else, isn't nice that residents see a break at least somewhere?
What we don't get taken out of our income taxes, we certainly pay for in almost everything else.