1. New Jersey
Average Property Taxes as percent of Median Income: 7.28 percent (The Most)
Average Median Property Taxes Paid on Homes: $6,348 (The Most)
Unemployment Rate: 9.2 percent (20th highest)
Average Median Income for Home Owners: $86,424 (2nd Highest)
Percent change in Median Home value (2006-2009): -4.5 percent (8th Greatest Decrease)
New Jersey residents spend more as a percentage of their incomes on property taxes than any other state. In some New Jersey counties, the amount of the annual property tax is enormous. In Passaic County in Northern New Jersey, the property tax as a percent of income is nearly 10 percent. Residents have not been helped by the fact that property values in the state decreased 4.5 percent between 2006 and 2009, which is the 8th greatest decrease in the country over that time period.
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