From NJ Digest:
NJ Residents Pay More in Taxes Than Anywhere in Nation, New Study Finds
New Jersey residents will pay more in taxes over their lifetimes than those in any other state, according to a recent study by Self Financial.
The analysis, titled A Life of Tax, estimates the average American will pay $524,625 in taxes over a lifetime, accounting for just over one-third of total earnings. However, New Jersey’s tax burden far surpasses that figure, with residents paying an average of $987,117 throughout their lives — the highest in the nation.
The study determined that this tax burden amounts to 54.3% of lifetime earnings, also the largest percentage among all states.
Here’s how New Jersey’s taxes break down:
- Property tax: $564,614 (highest in the nation)
- Income tax: $334,260 (6th highest in the nation)
- Personal spending tax: $54,961 (19th highest)
- Car tax: $33,282 (26th highest)
The report included property, income, sales, and vehicle taxes for all 50 states and Washington, D.C.
Other locations with high lifetime tax burdens include Washington, D.C. ($884,820), Connecticut ($855,307), Massachusetts ($816,700), and New York ($748,199).