7. New Jersey has some of the highest property taxes in the U.S.
Bergen County had the third-highest property tax rate in the country, and the highest in New Jersey at approximately $9,546 per capita. New Jersey Spotlight reported last May that NJ’s net property tax increase was much higher under Christie than even his Democrat predecessor Governor Corzine.
Christie published his plan to reform the nation’s tax code in the Wall Street Journal last Tuesday and later elaborated in a policy speech in New Hampshire. However, John Mckinnon reported:
In some respects, Mr. Christie’s plan stands out for not proposing a sharp reduction in tax revenue—unlike some other candidates and would-be candidates who want to cut taxes by hundreds of billions of dollars over the coming years.
Mr. Christie wants to raise roughly as much in taxes as the current system. He said he would accomplish that goal by eliminating or modifying existing tax deductions and credits, but he put off-limits the deductions for charitable contributions and home mortgages—among the costliest in the tax code.
