Ocean County has the third lowest tax burden in New Jersey
While New Jersey has the worst taxpayer burden in the entire country, there is some good news in-state, especially at the shore.
Ocean County has the 3rd lowest tax burden in the state, according to a report by personal finance company Smart Asset, continuing a steady trend of top five appearances.
Last year Ocean County also ranked third but in 2015 ranked 2nd.
Vice-President of Financial Education A.J. Smith says burdens from income tax, sales tax, property tax and fuel tax were all measured in this report.
"In New Jersey, income tax and sales tax were uniform across the state, but where we saw the difference was in property taxes and fuel taxes, and that's where Ocean County did well," Smith said.
Ocean County has a property tax value of $4,970-dollars and a fuel tax value of $218-dollars.
"When we look at property taxes across New Jersey, the average property tax for all the counties in the state was just over $7,000," Smith said.
While Ocean does well overall with things like property and fuel tax, if a single town does well it could give the entire county a boost now and in the future.
"If you see specific towns having some positive news and doing some good things, that will be reflected in those numbers," Smith said. "It may take a little bit because these are the Census Bureau numbers, so they may not be reflected in this years study but we should see the impact of that in future years studies."
Ocean ranks third in the report behind Cumberland and Cape May Counties, respectively while others of note include Burlington at number-seven and Monmouth ranking 14th.
"Property taxes in Monmouth are high, just over $7,700.00 dollars," Smith said. "It's higher than certainly Ocean County and higher than the state average ($7,135.00)."
If Governor Phil Murphy's campaign proposal to raise taxes by 1.3-billion dollars goes into effect, Smith says every county will be hurting.
"When you consider taxes as a whole, income tax, sales tax, property tax and fuel tax, it's not a small number for anyone's budget," Smith said. "So it is a good idea to think about that when you're considering your financial goals."
She says depending on what gets raised, may determine what you have to cut from your own budget.
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