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Tri-State

New Jersey has the highest property taxes in the country: report

<em>(Credit: Famartin)</em>
(Credit: Famartin)

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New Jersey has the highest property taxes of any state in the country, Mansion Global reported, citing a new WalletHub report. Residents who live in the state pay an effective real estate property tax rate of 2.47 percent, meaning they would have to pay $5,064 in taxes on a home priced at the country’s median value, $204,900, according to the outlet. By contrast, homeowners in Hawaii — which has the lowest effective rate in the country, at 0.27 percent — would only have to pay $560 in taxes on the same median-priced home. Florida fell in the middle on the ranking, with a 0.93 percent rate. [Mansion Global]