The property tax burden falls on area homeowners more heavily than almost anywhere else in the nation.
In fewer than 2 percent of counties in the U.S. do property taxes take a bigger bite out of homeowners’ incomes than they do in Atlantic County.
The chief reason is that, as reported earlier this week, New Jersey has the highest property taxes in the nation, according to the Tax Foundation in Washington, D.C. And in southern New Jersey, incomes are significantly lower than in the northern part of the state.
So while area residents can at least be glad that their taxes are not as high as in northern New Jersey – which has six counties among the top 10 most taxed in the nation – relatively high property taxes locally consume a big share of income.
Atlantic County, for example, has the 15th highest property tax burden out of 776 U.S. counties with populations of at least 65,000, according to the Tax Foundation. The median county homeowner must pay 6.8 percent of annual income to cover property tax.
All of the region’s counties are in the top 15 percent – and most much higher – for property taxes paid and percentage of income required to pay the taxes.