Duh! Constipation, Mr Holmes.
We residents of the “garden state” know full well that is costs way too much money to live here.
Some supportive documentation -
(1) No surprise here. In “Highest Property Taxes in the Country” CNN MONEY tells us -
“New Jersey residents pay the highest annual tax bill of any state - a median $6,579 per year, according to the Tax Foundation, which calculated the tally using data the U.S. Census Bureau released on Tuesday.”
(2) Today’s “Your Business” section of the STAR LEDGER tells us “Looking to Stare A New Business? Deep Pockets a Necessity in NJ”. (online title = "Jersey City and Newark Among Most Expensive Cities to Run a Business”).
“The pair {Jersey City, my hometown, and Newark – rdf} joins other such pricey towns as New York, Philadelphia, Chicago and San Francisco, according to the 16th annual Cost of Doing Business Survey by Claremont McKenna College in California.”
It appears that Jersey City (#5) beats out New York City (#6)!
This survey looked at 413 cities across the nation and examined their licensing fees and property, utilities and sales taxes.
We residents of the “garden state” know full well that is costs way too much money to live here.
Some supportive documentation -
(1) No surprise here. In “Highest Property Taxes in the Country” CNN MONEY tells us -
“New Jersey residents pay the highest annual tax bill of any state - a median $6,579 per year, according to the Tax Foundation, which calculated the tally using data the U.S. Census Bureau released on Tuesday.”
(2) Today’s “Your Business” section of the STAR LEDGER tells us “Looking to Stare A New Business? Deep Pockets a Necessity in NJ”. (online title = "Jersey City and Newark Among Most Expensive Cities to Run a Business”).
“The pair {Jersey City, my hometown, and Newark – rdf} joins other such pricey towns as New York, Philadelphia, Chicago and San Francisco, according to the 16th annual Cost of Doing Business Survey by Claremont McKenna College in California.”
It appears that Jersey City (#5) beats out New York City (#6)!
This survey looked at 413 cities across the nation and examined their licensing fees and property, utilities and sales taxes.
.
Jersey City and Newark were the only NJ cities in the survey. Perhaps NJ could have claimed all 10 of the top 10 spots if the entire state had been reviewed.
.
“The study found Jersey City has the highest property tax rate of all cities, at 6 percent, and a retail licensing fee of $40,000. Newark has a property tax of just a little over 1 percent, and a licensing fee of $2,300 — but it also charges a 1 percent payroll tax.”
5 of the 10 least expensive cities in which to do business are in Texas, home state of my fellow tax-blogger Kay Bell of DON’T MESS WITH TAXES. Included is Kay’s hometown of Austin, “which boasts a low property tax rate and doesn’t levy any business taxes or fees”. I, however, would never move my business to Austin – too hot!
The article quotes Brad Jensen, a researcher at the Rose Institute, which conducted the study, as explaining –
“Texas is a state that gets it. They understand that if you want to provide government services, you have to balance how much you charge in fees and taxes, otherwise you’ll end up strangling the golden goose."
I seem to recall reading somewhere not too long ago that states with lower overall tax burdens are currently in much better financial shape than highly-taxed states like near-bankrupt New Jersey.
The bottom line – two more good reasons to embrace the philosophy of GRIP (Get Rid of Incumbent Politicians) and vote the bastards out at the next election.
TAFN
5 of the 10 least expensive cities in which to do business are in Texas, home state of my fellow tax-blogger Kay Bell of DON’T MESS WITH TAXES. Included is Kay’s hometown of Austin, “which boasts a low property tax rate and doesn’t levy any business taxes or fees”. I, however, would never move my business to Austin – too hot!
The article quotes Brad Jensen, a researcher at the Rose Institute, which conducted the study, as explaining –
“Texas is a state that gets it. They understand that if you want to provide government services, you have to balance how much you charge in fees and taxes, otherwise you’ll end up strangling the golden goose."
I seem to recall reading somewhere not too long ago that states with lower overall tax burdens are currently in much better financial shape than highly-taxed states like near-bankrupt New Jersey.
The bottom line – two more good reasons to embrace the philosophy of GRIP (Get Rid of Incumbent Politicians) and vote the bastards out at the next election.
TAFN
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